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ULI Toronto on current, new geothermal considerations

2 years ago

A recent ULI Toronto panel painted a picture of geothermal’s emerging role in Toronto and Ontario’s rapidly approaching energy transformation.

How do you convince a multi-million dollar paper company to take a leap of faith and be among the first to buy into the district energy concept — utilities which alter how Canadians heat and cool buildings to reduce emissions footprints?

Brivia Group‘s CURV, to be constructed at 1075 Nelson Street in downtown Vancouver, will be the world’s tallest Passive House-certified building at 60 storeys.

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The Ontario Teachers’ Pension Plan Board will invest up to US$1 billion over the next six to eight years in an international offshore wind development in partnership with Corio Generation, a company within Macquarie Asset Management’s Green Investment Group.

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Alberta’s top court says Ottawa’s environmental assessment law is unconstitutional, arguing it undermines Canada’s division of powers and could effectively place provinces in an “economic chokehold” by regulating their natural resources. The court ruled 4-1 against the Impact Assessment Act.

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The world’s biggest fossil fuel firms are quietly planning scores of “carbon bomb” oil and gas projects that would drive the climate past internationally agreed temperature limits with catastrophic global impacts, a Guardian investigation shows.

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Scotiabank has chosen not to renew its long-running membership in the Canadian Association of Petroleum Producers, a move that comes at a time when financial institutions are facing growing scrutiny for their role in contributing to climate change.

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Two proposed liquefied natural gas projects in Nova Scotia that previously stalled could be advancing. The federal government approached Pieridae Energy earlier this year to explore how its Goldboro LNG plant could help wean Europe off Russian oil and gas.

Building Lasting Change

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Initiative Climat International (iCI), a practitioner-led forum of private equity firms and investors, and consultancy ERM Group have developed a standard that sets out a consistent approach to GHG emissions accounting and reporting for portfolio companies and private equity funds.

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Reusing existing building assets through increased building retrofits; reducing energy requirements in building operations through smarter building operation choices; and embracing low-carbon construction methods: These should be the top sustainability goals for construction companies, according to Eliot Jones of Trimble.

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In CRE, COVID-19 presented challenges for women and stalled their progress in the industry. Yet it also presented opportunities to change the industry culture and remove persistent workplace barriers. The CREW Network has been on the frontline of recent efforts.

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What exactly are ESG ratings? Who creates them and on what basis? What do they mean? How are they used? An ESG expert does a deep dive in this report — part one in a three-part series.

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Drylands are warming twice as fast as humid areas; we need to see better strategies to respond to wildfire, water scarcity and conflict, land degradation and desertification, if we are to reduce the loss of livelihoods and life from drought.

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A study from Montreal’s McGill University, published in the journal The Lancet Planetary Health, shows those living within 50 kilometres of wildfires over a 10-year period had a 4.9 per cent greater incidence of lung cancer.

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According to the Gespe’gewaq Mi’gmaq Resource Council, the sea level is forecast to rise by one metre by 2100, a dire risk for a community where many homes and community facilities are only 3.3 to 5.6 metres above sea level.

 

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Northern premiers issued a joint statement on calling for federal investment and attention to address the increased pace of climate change in Canada’s North. Areas targeted include climate-resilient infrastructure, emergency preparedness, preservation of cultural identity, capacity building, and more.

Montreal Real Estate Forum

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Municipal transit agencies in Toronto, Ottawa, Regina and Saint John are the latest jurisdictions to switch to fully electric bus fleets. While the climate crisis is spurring investments, the growing cost of owning diesel buses is also prompting the switch.

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Revel, a Brooklyn-based electric mobility company founded in 2018, is solving New York City’s electrification conundrum. Best known for its sky-blue rental mopeds, CEO Frank Reig discussed his company’s new EV charging “superhub” in Brooklyn that features 25 EV chargers.

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Like pension funds, investors from insurance are equipped to support the sustainability agenda and mandates that align with ESG investing. Vlad Barbala, chief investment officer at Liberty Mutual, manager of $41.5 billion in annual premiums, spoke about the insurer’s approach.

 

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Pachama, a San Francisco-based technology company is using data from sensors, satellites and other collection resources coupled with artificial intelligence to measure carbon sequestered by forests. The company has received backing from well-known celebrities and investors.

Industry Events