Hydro-Québec Lands 88-MW Green Hydrogen Deal with Thyssenkrupp – The Energy Mix: Provincial utility Hydro-Québec has signed a deal with a division of Essen, Germany-based industrial conglomerate Thyssenkrupp to build one of the world’s biggest green hydrogen plants, an 88-megawatt facility in Varennes that will produce 11,100 tonnes of the product per year.

The big electrolyser will run on electricity from the province’s network of hydropower dams, CNBC reports.

The announcement could be the first of many for green hydrogen projects in different parts of the country, CNBC adds. “Macquarie’s Green Investment Group, for example, is part of a consortium looking to develop another major plant that would be located in British Columbia.” Chetwynd, B.C., to be exact.

Hydro-Québec Lands 88-MW Green Hydrogen Deal with Thyssenkrupp – The Energy Mix: Provincial utility Hydro-Québec has signed a deal with a division of Essen, Germany-based industrial conglomerate Thyssenkrupp to build one of the world’s biggest green hydrogen plants, an 88-megawatt facility in Varennes that will produce 11,100 tonnes of the product per year.The big electrolyser will run on electricity from the province’s network of hydropower dams, CNBC reports. The announcement could be the first of many for green hydrogen projects in different parts of the country, CNBC adds. “Macquarie’s Green Investment Group, for example, is part of a consortium looking to develop another major plant that would be located in British Columbia.” Chetwynd, B.C., to be exact.Read More

Keystone Decision Triggers Calls for More Pipeline Cancellations [Sign-ons] – The Energy Mix: With the spotlight now moving to Trans Mountain, “the facts alone
haven’t been enough to convince [Prime Minister Justin] Trudeau to
cancel this C$12.6 billion boondoggle—but a shift in climate politics
from our closest economic ally could be,” Canadian Oil and Gas Program
Director Sven Biggs wrote in a fundraising email. So “this is a critical
moment to get ahead of [Alberta Premier Jason] Kenney and his fossil
fuel friends who are spewing lies that the Trans Mountain pipeline is
now needed more than ever.”

Stand and Dogwood BC cited analysis from the Canada Energy Regulator showing no need for either the Keystone or the Trans Mountain projects.

Keystone Decision Triggers Calls for More Pipeline Cancellations [Sign-ons] – The Energy Mix: With the spotlight now moving to Trans Mountain, “the facts alone
haven’t been enough to convince [Prime Minister Justin] Trudeau to
cancel this C$12.6 billion boondoggle—but a shift in climate politics
from our closest economic ally could be,” Canadian Oil and Gas Program
Director Sven Biggs wrote in a fundraising email. So “this is a critical
moment to get ahead of [Alberta Premier Jason] Kenney and his fossil
fuel friends who are spewing lies that the Trans Mountain pipeline is
now needed more than ever.”Stand and Dogwood BC cited analysis from the Canada Energy Regulator showing no need for either the Keystone or the Trans Mountain projects.Read More

Investors Are Backing Away From Fossils – Below 2C: A few days ahead of the 5th anniversary of the Paris Agreement, 18 NGOs released Five Years Lost – How Finance is Blowing the Carbon Budget. The report highlights 12 of the most devastating fossil fuel projects that are either on the drawing board or under development. “These expansion projects alone would use up three-quarters of the total remaining carbon budget if we are to have a 66% probability of limiting global warming to 1.5° Celsius,” says the report. And yet, against this backdrop of fossil fuel expansion, there are signs that investors are slowly backing away from fossils as outlined in the following piece first published in Yale Climate Connection.

The six largest banks in the U.S. have publicly stated they will not  back oil and gas exploration in the Arctic. In December 2019, Goldman  Sachs was the first major American bank to announce such a decision, as it also backed away from any new thermal coal mines worldwide.

Morgan Stanley, JP Morgan Chase, Wells Fargo, and Citi all followed  suit. Bank of America was the holdout among major U.S. banks, until  mounting pressure from indigenous groups, environmental advocates, and shareholders prompted it to announce in early December that it too will withhold funding for Arctic drilling projects.

Investors Are Backing Away From Fossils – Below 2C: A few days ahead of the 5th anniversary of the Paris Agreement, 18 NGOs released Five Years Lost – How Finance is Blowing the Carbon Budget. The report highlights 12 of the most devastating fossil fuel projects that are either on the drawing board or under development. “These expansion projects alone would use up three-quarters of the total remaining carbon budget if we are to have a 66% probability of limiting global warming to 1.5° Celsius,” says the report. And yet, against this backdrop of fossil fuel expansion, there are signs that investors are slowly backing away from fossils as outlined in the following piece first published in Yale Climate Connection.The six largest banks in the U.S. have publicly stated they will not  back oil and gas exploration in the Arctic. In December 2019, Goldman  Sachs was the first major American bank to announce such a decision, as it also backed away from any new thermal coal mines worldwide.Morgan Stanley, JP Morgan Chase, Wells Fargo, and Citi all followed  suit. Bank of America was the holdout among major U.S. banks, until  mounting pressure from indigenous groups, environmental advocates, and shareholders prompted it to announce in early December that it too will withhold funding for Arctic drilling projects.Read More