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Recent Articles

CPP Investments commits to net-zero GHGs by 2050

2 years ago

BIZ   •   • 

Canada Pension Plan Investment Board, with assets of more than $550 billion, has announced it is making a commitment for its portfolio and operations to achieve net-zero greenhouse gas emissions across all scopes by 2050.

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Scotiabank and Evolugen, a subsidiary of Brookfield Renewable, has announced a 15-year purchase agreement for solar energy in Alberta. Construction of Spring Coulee Solar is scheduled to begin in summer 2022, with operations commencing in 2023.

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TD Bank Group has been recognized for its sustainability performance. Demonstrating a commitment to ESG, TD is the only North American bank ranked in the S&P Global Gold or Silver Class distinctions.

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Lafarge Canada has partnered with TransAlta to deliver wind energy to its cement plant in Alberta. The Exshaw cement plant will cover 25% of Exshaw’s energy demands, depending on actual production volumes in 2022 and 2023.

Energy Profiles

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Nova Scotia-based Sustane Technologies wants to expand its operations into McNab-Braeside in Renfrew County. The company, specializing in turning waste into recycled materials and high-value fuels, says the new facility will create approximately 25 jobs.

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Located just north of Rexdale Blvd. in Etobicoke, the record-breaking wall from manufacturer Mitrex is expected to generate 90,000 kWh of energy for the building annually, slashing its carbon footprint in the process.

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Vancouver has topped the list of cities with the most sustainable hotels globally, according to a list from Uswitch. Using Booking.com’s new ‘Travel Sustainable’ certification criteria, it found that Vancouver finished ahead of world-class cities like Stockholm, Toronto, and Johannesburg.

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Maple Leaf Foods has achieved some major milestones en route to becoming the first large-scale food company globally to become carbon neutral. Chartered in 2019, the company’s path to sustainability includes new standards and consumer research.

Social Purpose Real Estate Financing

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Nova Bus, a member of the Volvo Group, has been awarded a contract to deliver 40 electric buses to a transportation authority in Houston. The buses are expected to be in operation by the end of 2022.

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Australian gas producer Santos has acquired depleted gas reservoirs for carbon storage – with the potential to keep up to 100 million metric tons. Sources say the carbon credits could be worth $25 million annually.

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Equinix, one of the two largest pure-play data centre REITs, is spearheading an effort to develop low-carbon fuel cells to power data centres. Equinix has pledged to become climate neutral by 2030 and achieve 100 percent renewable energy globally.

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IT technology leaders are looking for efficiencies in their application development processes and focus on lowering their carbon footprint to create sustainable IT departments. With pressure mounting from investors and governments, changes are flowing into the industry.

Yardi Pulse

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Canada has fallen behind its international partners on building codes. However, changes to the 2020 National Building Code (NBC) are underway. According to Natural Resources Canada, copies of the changes to the NBC were sent out to provinces and territories.

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November atmospheric river events are impacting the future of B.C.’s key highway corridors. Bridges and roads were heavily damaged by washouts, flooding or landslides following record-breaking rainfall, and some are looking at new ways to input data to create sustainable change.

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Microsoft and Schneider Electric have partnered with a nonprofit organization, Footprint Project, on the way to multiply the number of mobile microgrids that can quickly respond to disasters.

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Extreme weather and energy uncertainty are causing “greenflation”. The prices of copper, aluminum, and lithium have all jumped in the last year, as renewable technologies require more wiring than the fossil-fuel variety, which some say could prolong the transition.

Anchor Corp

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Companies like Cola-Cola and Kraft Heinz are forgoing Super Bowl ads this year, putting at least $6.5 million back in their pockets pre-production. Instead, some will use that money to reach new consumers on TikTok and other social media platforms.

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Investors are looking at rating agencies, researchers and fund managers to assess a company’s ESG performance. Some experts believe that it will allow for more greenwashing without more data.

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OPINION: The U.S. will need more solar and wind power generation to cut emissions and make a lasting impact; the U.S. will need more overnight and longer-term storage. Could pumped hydro energy storage options be the answer?

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Beverly Wright has been at the forefront of the environmental justice movement for more than 30 years, both as head of the Deep South Center for Environmental Justice in New Orleans. She talks more about steps that need to be taken.

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