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Insurers need to be ready for the EV revolution

1 year ago

Insurers need to be ready for the EV revolution

The global insurance industry should anticipate the rapid technological and financial changes brought on by automobile electrification and electric vehicles (EVs), according to Pratik Raval, partner and head of sustainable business strategy and transformation practice at Mumbai-based Tata Consultancy Services.

EVLO launches configurable BESS system EVLOFLEX

EVLO Energy Storage Inc. has unveiled its latest offering, the configurable battery energy storage system (BESS) EVLOFLEX. The EVLOFLEX BESS can be configured with a density of 1.65, two or 2.5 megawatt-hours - translating to between 500 kilowatts and 1,500 kilowatts.

Quebec Climate Solutions Festival announces winners

The first Quebec Climate Solutions Festival has announced its winners, handing out a total of $300,000 in prize money to five Canadian innovators, entrepreneurs and researchers making strides in clean and climate technology.

Consortium for flexible plastic recyclers formed

Six of Canada’s largest plastic recycling groups, including Canada Plastics Pact, have joined forces to create PRFLEX, an industry initiative that seeks to improve the recovery and recycling rates of flexible plastics collected from Canadian households.

Quebec investors aim for $1B ESG fund

Financial firms in Quebec, including its largest bank, have set a goal of raising as much as $1 billion for a new ESG fund. The investors in the Fonds Investi initiative includes Caisse de Depot et Placement du Quebec.

Canada gives $300M for GM-POSCO battery facility

Canada's federal government and the Quebec province will each provide about $150 million for a General Motors-POSCO Chemical battery materials facility that is expected create about 200 jobs in the country, the Canadian industry ministry said on Monday.

Waga Energy commissions its first Canada RNG plant

Waga Energy and Énercycle have started on-site renewable natural gas (RNG) production at the Saint-Étienne-des-Grés landfill in Quebec, Canada. The facility will inject up to 130 gigawatt-hours of RNG - equivalent to 12.4 million cubic meters annually - into Énergir's grid.

Canada opens $1.2B affordable green homes program

The Canadian government announced the launch of the $1.2-billion Canada Greener Affordable Housing program, which will offer low-interest loans over the next four years to help affordable housing providers complete deep energy retrofits on residential rental buildings.

Low-carbon business leaders descend on Ottawa

Executives from an array of low-carbon industries are attempting a show of strength on Parliament Hill this week, at a precarious point in Canada’s efforts to keep pace with the United States and other countries prioritizing low-carbon economic growth.

Guelph condo building readies for an EV transition

With electric vehicle sales on the rise, the difficulty of installing charging stations in condos and apartment buildings is a growing concern. But with a little resourcefulness this condo committee in Guelph made it work.

Ontario to pay smart thermostat owners for control

Ontario is rolling out an energy conservation program that will pay residents with smart thermostats to automatically lower their air conditioning during certain periods in the summer when the electrical grid is straining under peak demand.

The future of takeout under the single-use plastic ban

Straws made from oats or rice. Containers made of sugar cane. Welcome to what could be the future of takeout. These products, made with eco-friendly materials, could be substitutes for the single-use plastics now banned under Canadian regulations.

Senator strives for finance to prioritize the climate

Rosa Galvez is a senator on a mission to get the finance industry to live up to its proclamations of aligning its business with climate objectives. She introduced a bill aimed at mandating federally regulated institutions to prioritize climate-related objectives.

Fewer, but more powerful wildfires in Canada

The wildfires that have ripped through parts of Western Canada this spring are part of an overall rise in more powerful fires, experts say. But the details behind this trend are more complex than just counting the fires per year.

Recycling could pay for itself: U.S. study

Recycling can do more for the environment than previously known, according to a new U.S. study which compared carbon mitigation strategies, such as a transition to electric vehicles and the use of clean energy, to more traditional environmental-protection approaches.

Why permitting reform is in the U.S. debt-limit talks

As debt-limit talks conclude and reach the voting stage, members of U.S. Congress and President Joe Biden are also looking for common ground on how to overhaul the national permitting process for big energy projects. 

Alaska pursues carbon offsets while embracing oil

Alaska's push to become a bigger player in the clean energy market is in the spotlight this week at a conference convened by its Republican governor, even as the state continues to embrace new fossil fuel production.

UN advises against offsets for carbon removal tech

The United Nations climate body has cast doubt over technologies that aim to suck carbon pollution from the atmosphere, calling them “unproven” and potentially risky. The assessment has angered the industry, telling the UN to not rule the technology out.

UN meets in Paris for global plastic pollution treaty

A United Nations committee met on Monday in Paris to work on what is intended to be a landmark treaty to bring an end to global plastic pollution, but there is little agreement yet on what the outcome should be.

TotalEnergies AGM rejects climate activist resolution

TotalEnergies shareholders rejected a resolution filed by an activist group and 17 institutional investors on Friday urging faster cuts to the oil major’s greenhouse gas emissions program, after police intervened to stop climate protesters disrupting its annual general meeting.

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