Tag Archives: fossil fuels

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Canada Pension Plan investments rely on oil and gas companies overshooting climate targets, new report reveals | The Narwhal

The Canada
Pension Plan Investment Board (CPPIB) has more than $4 billion invested
in the top 200 publicly traded oil, gas and coal companies, according
to a newly released report.

The report
by the Corporate Mapping Project and the B.C. office of the Canadian
Centre for Policy Alternatives looks at whether the investment board
considers global warming when investing Canadians’ pension money.

The answer
is a resounding “no,” said University of Victoria School of
Environmental Studies associate professor James Rowe, one of the report
authors and a co-investigator with the Corporate Mapping Project.

November 19, 2019

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Review of federal fossil fuel subsidies appears to be behind schedule

A 2021 completion date would leave Canada with less than four years to hit Prime Minister Justin Trudeau’s promise of phasing out all “inefficient” subsidies to the fossil fuel sector by 2025. The peer review is seen as a critical part of the process because there is no consensus in Canada between politicians, environment experts and the energy industry about what “inefficient” means or what constitutes a subsidy.

Environment groups suggest Canada’s annual aid to the oil, gas and coal sectors tops $10 billion, including tax credits and treatments, direct grants, loans and loan guarantees from Export Development Canada.

November 16, 2019

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Most of Ottawa’s $1.6B bailout for Alberta oil and gas industry has been handed out

Canada’s $1.6-billion bailout for Alberta’s battered oil industry is
well underway, but with little transparency about who is getting the
money and for what.

Almost $1 billion of the package of loans,
guarantees and government grants announced last December is in the hands
of companies, but details are available for just a small fraction of
the spending and the industry says it has not helped much.

The
package is rolling out as pressure mounts on Canada to fulfill its
promise to end all subsidies to fossil-fuel producers, and as European
banks flee the sector altogether.

November 16, 2019

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Canadian CEOs’ Lobby Calls for Climate Risk Assessment, Still Wants More Pipelines – The Energy Mix

Long term risks? Death and destruction to the planet… but PLEEESE don’t let that deter you…

Companies “have an obligation to demonstrate how they are incorporating the risks of a changing climate into their long-term business strategy,” the Business Council of Canada concluded, in a report released October 30 that called for a “national resource and climate strategy” to meet growing demand for low-carbon energy, National Observer reports.

November 4, 2019

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The Run> Fossil fuel leaders have been obstructing serious climate action and they’re hoping they can delay even longer.

In addition to CAPP’s years of lobbying against climate regulations
designed to lower Canada’s greenhouse gases, which are among the highest per-capita in the world, InfluenceMap focused on the Calgary group’s political activities, citing its advertising campaign during
Ontario’s 2018 election. That election of course resulted in the
election of Doug Ford, who immediately went to work scrapping Ontario’s
carbon pricing system.

Now, CAPP has turned its efforts towards the federal election.

A CAPP-funded group known as Energy Citizens recently placed an ad on social media
claiming, without any evidence, that reducing oil and gas expansion in
order to avert Canada’s climate emergency “kills jobs, harms Indigenous
Canadians and increases our reliance on imported oil.” The ad cuts from
an image of Russian President Vladimir Putin to streets filled with
climate demonstrators, which the ad describes as “foreign activists who
don’t care what’s good for Canada.”

October 9, 2019

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Steve MacLellan

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Tag Archives: fossil fuels