Thoughts on BC Politics and More

The grand net-zero vision is fading as financial giants withdraw from global climate alliances In recent years, governments and Financial institutions worldwide have committed to the goal of “net zero”—cutting greenhouse gas emissions to as close to zero as possible by 2050. One of the most prominent initiatives, the Glasgow Financial Alliance for Net Zero (GFANZ), sought to mobilize trillions of dollars by shifting investment away from fossil fuels and toward green energy projects. fossil fuels, green energy, The idea was simple in principle: make climate action a core part of financial decision-making worldwide. The vision of a net-zero future, once championed as an inevitable path to global prosperity and environmental sustainability, is faltering. What began as an ambitious effort to embed climate goals into the flow of international capital is now encountering hard economic and political realities ... CLICK HERE for the full story  

  Saskatchewan’s electricity regulator says achieving the Liberal government’s 2035 target year to decarbonize the province’s electricity grid is impossible .    According to an interview with the outlet Pipeline Online, SaskPower spokesperson Scott McGregor said that the Clean Electricity Regulations unveiled by Liberal Environment Minister Steven Guilbeault last week were unfeasible in every aspect.    “SaskPower is working as fast as it can to decarbonize the power grid while also providing reliable, sustainable, and cost-effective power,” McGregor told the outlet.     “We’re committed to achieving a net-zero greenhouse gas (GHG) emissions power system and we’re on track to do so by 2050 or earlier. We’re also on track to reduce GHG emissions by 50 per cent below 2005 levels by 2030. However, reaching net zero by 2035 isn’t feasible technically, logistically, or financially" ... CLICK HERE for the full story

  The man hired to turn around the flagging fortunes of Suncor Energy Inc. said Tuesday he believes the company has been too focused in recent years on the energy transition and must get back to an oil-centred business strategy.   CEO Rich Kruger, who took the reins at the Calgary-based energy giant this spring, told analysts on a conference call that the company’s board of directors agrees with him that a “revised direction and tone” at the company is necessary.   He said he believes Suncor must not neglect “the business drivers of today” in favour of future-focused, clean and low-carbon energy pursuits.   “We have a bit of a disproportionate emphasis on the longer-term energy transition,” Kruger said, adding that while lower emissions energy is important, it is not what is going to make money for shareholders today ... CLICK HERE to read the full story

  New Democrats in two Western provinces are split over the Liberal government's goal of a net-zero electricity grid by 2035, with the leader of the federal party keeping quiet on his own preferred timeline.   Federal Environment Minister Steven Guilbeault released draft regulations last week aimed at making good on the Liberals' pledge to rid the grid of emissions, sparking sharp reactions from provincial governments in Alberta and Saskatchewan about the 12-year deadline ... CLICK HERE to read the full story

  Environment Minister Steven Guilbeault has released draft regulations designed to clean Canada’s electricity grid.   The regulations would drive up the cost of energy slightly, but federal officials say that would be offset by the savings expected to come from moving away from fossil fuels.   The government has set a target of making the electricity grid net-zero by 2035, and the regulations are meant to help guide the way ... CLICK HERE to read the full story