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Recent Articles

CBRE, Altus Power merger sign of times in clean energy sector

3 years ago

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The recent announcement clean electrification company Altus Power will merge with CBRE Acquisition Holdings (CBAH) to go public on the New York Stock Exchange in a US$1.6-billion deal is a significant indicator of growing interest in the sector.

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Best Buy‘s current headquarters in Burnaby, B.C. will become Svante‘s new headquarters and manufacturing facility. The carbon capture company announced plans to take over the complex for its new Centre of Excellence for Carbon Capture Use and Storage.

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Documents show Finance Minister Chrystia Freeland is weighing pitches from stakeholders in Toronto and Montreal — including Toronto Mayor John Tory and Montréal International — pushing for the International Sustainability Standards Board (ISSB) headquarters to be established in their respective cities.

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The Canadian Energy Centre released its latest Research Brief, examining Canada’s record in reducing GHG emissions per person, unit of GDP, unit of energy used and crude oil barrel produced, all of which have declined over the past two decades.

Energy Profiles

BIZ   •   • 

A Greener Future has been organizing The Butt Blitz since 2015. The country’s largest cigarette cleanup, the blitz has led to the collection of nearly two million cigarette butts, which are the most littered item in the world.

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A race to control Ontario’s new privatized, curbside blue-box recycling system is officially underway, as 15 of the province’s largest waste producers — including food giants, grocery chains and beverage bottlers — have launched a not-for-profit aimed at shaping the new regime.

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Nathalie Roy, Quebec’s minister of culture and communications, has announced the government is giving another $9.7 million to RecycleMédias to support print media. The non-profit organization represents media organizations that are legally required to recycle the newspapers they produce.

BIZ   •   • 

TO OUR VALUED READERS: The staff at SustainableBiz will be on vacation from August 2–6 and therefore won’t be publishing articles to sustainablebiz.ca or sending our bi-weekly newsletter during that time. We will resume normal publishing activities on August 9.

Procore

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Major institutional investors have committed US$7-billion to Brookfield Asset Management’s Global Transition Fund, making it the largest pool of private money aimed at accelerating the shift to a net-zero carbon economy.

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Prime Minister Justin Trudeau is stepping in to aid Muskrat Falls’ power project in the province of Newfoundland and Labrador. Costs for the hydroelectric dams have soared to more than $13 billion, nearly double early projections.

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Canadian pipeline operator TC Energy Corp. could spend billions of dollars on its plans to lower emissions by switching to renewable energy to run its huge network of U.S. and Canadian oil and gas pipelines.

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Alberta’s Technology Innovation and Emissions Reduction fund is investing $4.7 million in a $28.6-million Lethbridge facility, which is working to turn agricultural waste, inedible fat and used cooking oil into renewable biodiesel fuel and glycerine.

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The electric vehicle boom is driving a surge in demand for metals required for batteries and other components. Some companies say the solution lies in mining the deep oceans, but scientists say that could irreversibly damage the largely pristine ecosystem.

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The construction industry has demonstrated remarkable resilience in the face of challenges and disruption posed by the COVID-19 pandemic — whether through practical worker safety steps at the coalface or by navigating multiple pressures in the boardroom.

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There is much talk about the urgency of climate change. However, there remains a critical need for targeted tax credits for zero-carbon buildings and retrofits. Buildings are the largest contributor of global GHG emissions, producing about 40 per cent.

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“About $68 billion has gone into ESG exchange-traded funds this year, and over $118 billion over the past 12 months,” reports Bloomberg. Globally, close to $2 trillion has been invested in over 4,500 sustainable funds, according to Dimensional Fund Advisors, which represents $637 billion AUM.

Canada Green Building Council

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At COP26, global government representatives will try to agree on effective actions to combat climate change. Should we succeed, humanity will be better equipped to prepare for a future of climate change and resource constraints.

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Managing earnings sometimes involves manipulating financial reporting. Publicly-traded companies may misrepresent how well they’re doing by inserting a low-ball debt estimate or delaying announcing a capital project – anything that can help them report extra earnings and avoid a stock sell-off.

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We need to use all available, proven solutions to take action against climate change. Alongside drastic reductions, this includes investments in carbon-removal technologies and reducing emissions outside of one’s own operations. This can be done by purchasing carbon credits.

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The Asian Development Bank estimates Southeast Asia’s climate-resilient infrastructure financing needs at $210 billion per annum between 2016 and 2030. Where the financing gap is estimated at 50-60 per cent of the target — likely worse due to COVID-19’s impacts — governments need private sector funds.

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