climate crisis Archives - Page 2 of 4

A fine line’: Canada’s big banks have long stood by the oilpatch, but ESG pressures are changing things

This article was written by Barbara Shecter and originally published in the Financial Post on August 22, 2022. If you want to understand the sway Canada’s energy sector has historically held over the country’s big banks, you need only look back a few years to a controversy stirred up when Canadian Imperial Bank of Commerce…

Private Equity Should Take the Lead in Sustainability

This article was written by Robert G. Eccles, Vinay Shandal, David Young, and Benedicte Montogomery and originally published in Harvard Business Review in the July - August 2022 magazine. Despite their reputation in the 1980s as corporate raiders, most private-equity firms attempt to improve the performance of their portfolio companies through better corporate governance. Historically their business…

Health pensions must divest of fossil fuels

This article was written by Mike Apostol, Travis Frampton, Mike Kurz, and Magdalene Winterhoff and originally published in The Hamilton Spectator on July 7, 2022. Recently, 130 Australian health-care workers noisily walked away from their pension plan. Why would health-care workers walk away from a valuable retirement savings scheme? Because their pension fund, HESTA, still has billions…

Floods, droughts, storms will cost Canadian economy $139B in next 30 years, report says

This article was originally published by The Canadian Press in CBC on August 29, 2022. Floods, droughts and major storms that wash out highways, damage buildings and affect power grids could cost Canada’s economy $139 billion over the next 30 years, a new climate-based analysis predicts. The report, titled Aquanomics, was published Monday by GHD, a…

Campaign ramps up to pressure one of Canada’s largest pension firms to divest from fossil fuels

This article was written by Cloe Logan and originally published to Canada’s National Observer on July 8th, 2022. People are pushing the investment firm that manages retirement savings for B.C.’s public sector workers to move roughly $2 billion out of fossil fuels by the end of the year. The British Columbia Investment Management Corporation (BCI)…

Campaign Launch: BCI Divest from Fossil Fuels

Oil Sands Divestment, along with a coalition of pension plan members and concerned organizations, is calling for the British Columbia Investment Management Corporation (BCI) to divest all fossil fuel holdings by the end of the 2022 calendar year. BCI manages most of the public sector pension plans in BC totalling around $153 billion. This includes…

Fossils Won’t Hit 2030 Carbon Target Without Cutting Production, Federal Analysis Shows

This article was originally published in The Energy Mix on June 14, 2022. Internal analysis by federal officials raises tough questions about whether the Canadian fossil industry can achieve the 81 megatonnes of emissions cuts the Trudeau government has promised by 2030 without cutting production, according to confidential documents obtained by the Globe and Mail.…

Stranded Fossil Fuel Assets Will Cost Investors Trillions, Study Finds

This article was written by Christopher Bonasia and originally published in The Energy Mix on June 7, 2022. Private investors in rich countries stand to lose more than a trillion dollars on stranded fossil fuel assets as climate policies slash their value, giving them a powerful interest in the transition off carbon, according to new…

Climate Inaction Would Cost $178 Trillion by 2070, Deloitte Warns

This article was originally published in The Energy Mix on May 29, 2022. Business-as-usual inaction on climate change could cost the world’s economy US$178 trillion by 2070, while a concerted and collaborative global push for net-zero could see $43 trillion in economic growth over the same period, says a new report from the Deloitte Center…

Shut down fossil fuel production sites early to avoid climate chaos, says study

This article was written by Damian Carrington and originally published in The Guardian on May 17, 2022. Nearly half of existing fossil fuel production sites need to be shut down early if global heating is to be limited to 1.5C, the internationally agreed goal for avoiding climate catastrophe, according to a new scientific study. The…