Corporate Knights

Canada's subsidies and financing for oil and gas climbed to nearly $30 billion in 2024, much of it going to the Trans Mountain pipeline. “That is more than the price of building out interprovincial electricity transmission infrastructure, which is estimated to cost $24 billion,” writes Environmental Defense Fund, which crunched the numbers in a new report. Environmental Defence estimates costs associated with oil and gas pollution are even higher: about $53 billion in losses for Canadians. #FossilFuelSubsidies #EnergyTransition https://lnkd.in/eMk45Uxx

The rapid buildout of computing infrastructure over recent years has created a giant opening for renewables to power the growth of AI. While gas power generation enjoys some tailwinds under Trump – case in point, Engine No. 1's decision to build data centres that run on gas sourced in the United States, stunning climate investors – tech companies are turning to renewables to compute more while polluting less. “There are opportunities to make these data centres some of the most clean-powered industrial projects in the country, and at competitive costs,” says Sheldon Kimber, CEO of Intersect Power, purveyor of “American-made, low carbon solutions." In December, Intersect announced an ambitious, multi-year deal with Google and TPG Rise Climate to deliver US$20 billion in renewable energy for data centres across the U.S. by 2030. Read associate editor Mark Mann's report on the trajectory for renewables in this critical space. #DataCentres #GreenEnergy https://lnkd.in/eDuRWW-c

In a signal to mark the end of en era, coloured smoke billowed out of a chimney of Salmisaari, a Finnish coal power plant that officially turned off the lights this week. Coal generation now makes up less than 1% of Finland’s energy mix, down from 23% in 2003, writes Natalie Alcoba. “Wind alone has more than covered the gap left by coal and fossil gas, proving that renewable energy can be scaled fast, particularly when government policy creates the right conditions,” said Cyrille Cormier, deputy campaign director at Beyond Fossil Fuels, in a statement. #energytransition #coal #fossilfuels #cleanenergy #windpower #renewables https://lnkd.in/dcfACVTd

Both high and low-income countries stand to see economic gains that translate into "literally billions" by 2050, if they lean into Paris Agreement climate action, according to new research from UN agencies. #climatecrisis #COP30 #COP #energytransition #climateaction https://lnkd.in/dk6ay4QN

Last week, the climate activist group Just Stop Oil announced the end of its campaign of direct action. What legacy do they leave? The controversial protest movement inspired angry backlash for its controversial tactics – like throwing soup on the glass protecting famous paintings – but the provocative strategies worked: "Just Stop Oil’s initial demand to end new oil and gas is now government policy, making us one of the most successful civil resistance campaigns in recent history," the group wrote in the announcement. The backlash wasn’t a sign of Just Stop Oil's failure but of its success, argues George Ferns in this OpEd. “Of course, disruption risks alienating some people — but that can actually strengthen a movement’s overall influence," he writes. Citing other famous protest movements in history, Ferns examines how disruptive tactics can play an important role in forcing attention to urgent issues. #JustStopOil #climateaction https://lnkd.in/eeY9qwRQ

Whether or not Canada achieves net-zero depends in good part on whether Canadian banks continue to finance polluters or pivot to climate solutions. But most Canadian corporate boards are still made up of people equipped with skills and experience that reflect the economy of yesteryear. According to the investor group Climate Engagement Canada (CEC), there’s a growing gap between the responsibility of boards to oversee companies’ net-zero goals and their skills and knowledge to do so effectively. And this is particularly true at Canada's banks, which continue to finance fossil fuels at a rate far higher than their international peers, and far above the financing they provide for climate solutions. In their latest OpEd for Corporate Knights, Kyra Bell-Pasht and Matt Price of Investors for Paris Compliance write about the failure of Canada's banks to recruit board members with climate-related skillsets. But there's some good news. Following a shareholder proposal that I4PC co-filed at TD, then withdrew for settlement, the bank pledged to improve how it recruits board members, now requiring climate expertise to help navigate the bank’s transition. Read the full OpEd on our website: https://lnkd.in/eREBGx3q

Climate policy is shaping up to be a central issue in Canada's upcoming election. How are the parties navigating the tensions? Each party is performing a balancing act, argues Andrew Heffernan, between the claims of the environment and concerns about the economy. The Liberals under Mark Carney need to make the case that green investments represent not only the key to Canada's economic survival but a massive growth opportunity. The Conservatives under Pierre Poilievre – a longtime opponent of climate action – are friendly to Big Oil, but still can't ignore the environmental wing of their party. The NDP and the Greens, meanwhile, both appear to be still gauging how to weigh in, as the ground keeps shifting. https://lnkd.in/eQefsM5J

If you've been feeling angry lately, you're not alone. In his latest column for Corporate Knights, Canadian Climate Institute / Institut climatique du Canada president Rick Smith explores what to do in these rage-inducing times, noting that "eco-anger" is actually a pretty potent motor for change that is good. https://lnkd.in/dbxbjsWZ

Surging load growth has boosted demand gas power generation, but backlogs for gas turbines are creating a bottleneck for further development. There's a mismatch between gas expansion plans and turbine supply, as manufacturers weigh short-term demand against the future need for gas. Read Mitchell Beer's deep dive on how gas supply chain risks are helping make the case for renewables, which are quicker to build. https://lnkd.in/eCXRykcX

In 2017, Paul Hawken published a book about decarbonization and launched a nonprofit to implement solutions. Then his thinking changed. In his new book Carbon: The Book of Life, Hawken argues that the climate movement must reevaluate its approach, and its messaging. Hawken wants to change the basic language we use to talk about climate change. "Those who call carbon a pollutant might want to lay down their word processor,” he writes. He describes “biodiversity” as “a bloodless term” and “carbon neutrality” as an absurd “biophysical impossibility.” The new book is an exercise in letting go of old assumptions and drawing inspiration from carbon, which he calls “the most mysterious element of all.” This is a provocative argument and we’d love to know what you think. Please read the story and share your thoughts in the comments below. https://lnkd.in/exG7chSm