The SFAC’s taxonomy roadmap walks a fine line. It sets out a series of eligible investments under green and transitional labels that it says must be geared to limiting the global average temperature gain to 1.5 degrees Celsius above preindustrial levels. The document points out that Canada’s is a resource- and industry-heavy economy and says all efforts should be made to smooth out the transition for workers and communities.
Some of the hypothetical examples include decarbonizing oil sands facilities with carbon capture, utilization and storage; electrifying steel manufacturing; and producing hydrogen from natural gas. These are projects that cut emissions from production and the energy used in operations or from the use of products, known as Scope 3 emissions. Projects would be evaluated on other criteria, such as demand-side risks and thresholds and timelines for slashing emissions.
Not everyone is on board. Climate Action Network Canada, Environmental Defence, Investors for Paris Compliance and Shift Action for Pension Wealth and Planet Health had an early look at the roadmap in September. In a letter to SFAC chair Kathy Bardswick, Finance Minister Chrystia Freeland and Environment Minister Steven Guilbeault, the green groups said the taxonomy should be led by the government, with non-governmental organizations and others at the table alongside the finance industry.
They argue the EU’s decision to include gas and nuclear reactors in its guidelines partly reflects fears of energy shortages on the continent, driven by Russia’s invasion of Ukraine, and that Canada, with its huge renewable energy potential, is not at risk of that.
A green investment is an uneconomic investment.
Green energy is why Canada is tanking
You usually need something to buy or sell, before you make plans. So far there is nothing that makes sense ($), or not created yet to replace existing infrastructure. All e cars ? No, however in gta on half battery size yes. Hydrogen is the best. It can be made and stored
'Top financial minds', as in those who've continued to put us in a more heavily tax burdened society that mostly benefits the banks? If they need to 'define the green energy transition' you've chosen to listen to the wrong people.
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