Posts filed under ‘Investment’

Bank Funding of Fossil Fuels Soars

Banking on Climate Change 2018 is the ninth annual report that ranks bank policies and practices in funding fossil fuel production and extraction, including drilling for oil in tar sands, the Arctic and in deep water. The report examines 36 private banks from the U.S., Canada, Europe, Australia, Japan and China, and breaks down how much funding is going to different fossil fuel subsectors and companies.

This year’s numbers saw an 11 percent jump in funding, from $104 billion in 2016 to $115 billion in 2017, with the tar sands sector holding the biggest responsibility for the increase, along with continued financing in coal. In tar sands alone, bank lending and underwriting to tar sands oil extraction and pipeline projects grew by 111 percent from 2016 to 2017, reaching $98 billion. The three banks that contributed are the Royal Bank of Canada, TD Bank and JPMorgan Chase.

Read Bank Funding of Fossil Fuels Soars by Katherine Wei at Ecowatch.

 

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April 2, 2018 at 11:01 am Leave a comment

World Bank to end financial support for oil and gas exploration

The World Bank will end its financial support for oil and gas exploration within the next two years in response to the growing threat posed by climate change.

In a statement that delighted campaigners opposed to fossil fuels, the Bank used a conference in Paris to announce that it “will no longer finance upstream oil and gas” after 2019.

The Bank ceased lending for coal-fired power stations in 2010 but has been under pressure from lobby groups also to halt the $1bn (£750m) a year it has been lending for oil and gas in developing countries.

The Bank said it saw the need to change the way it was operating in a “rapidly changing world”, adding that it was on course to have 28% of its lending going to climate action by 2020. At present, 1-2% of the Bank’s $280bn portfolio is accounted for by oil and gas projects.

Read World Bank to end financial support for oil and gas exploration by Larry Elliot at The Guardian.

December 13, 2017 at 11:55 am Leave a comment

Catholic church to make record divestment from fossil fuels

More than 40 Catholic institutions are to announce the largest ever faith-based divestment from fossil fuels, on the anniversary of the death of St Francis of Assisi.

The sum involved has not been disclosed but the volume of divesting groups is four times higher than a previous church record, and adds to a global divestment movement, led by investors worth $5.5tn.

Christiana Figueres, the former UN climate chief who helped negotiate the Paris climate agreement, hailed Tuesday’s move as “a further sign we are on the way to achieving our collective mission”.

She said: “I hope we will see more leaders like these 40 Catholic institutions commit, because while this decision makes smart financial sense, acting collectively to deliver a better future for everybody is also our moral imperative.”

Read Catholic church to make record divestment from fossil fuels by Arthur Nelsen at The Guardian.

October 4, 2017 at 10:07 am Leave a comment

This Canadian Site Lets Anyone be a Clean Tech Investor

On CoPower, an investment platform for renewable energy and energy efficiency projects, you don’t have to make concessions between decent financial returns and decent environmental impact (as is often the case elsewhere). If you’re willing to put up at least $5,000, you’re promised 5% a year over five years, and your money goes to solar farms, geothermal installations, and building retrofits.

The only catch: Currently, you need to be a Canadian citizen to access the site.

“There are lots of market driven and profitable solutions to social and environmental problems and lots of investors seeking social and environmental returns,” says Trish Nixon, CoPower’s director of investments, in an interview. “The challenge is in connecting the two and having financial products that meet the needs of investors from a risk-return-impact and access standpoint. That’s the problem that CoPower is solving.”

Read the full article:  This Canadian Site Lets Anyone be a Clean Tech Investor by Ben Schiller at Fast Company.

July 5, 2017 at 11:01 am Leave a comment

Canadian investor profiles

solar88Canadians who want to invest in environmental solutions and clean technologies (cleantech) – the sector of companies that minimizes the impacts of non-renewable resource use – have several options. Some of these are available to retail investors wary of choosing individual stocks or volatile passive funds characterized by hype and cynicism.

Read Canadian investor profiles by Jason Visscher at Corporate Knights.

January 18, 2017 at 11:27 am Leave a comment

The cost of carbon pricing in Ontario and Alberta

rebate_figureClaims that carbon pricing will lead to skyrocketing price increases throughout the economy are misplaced at best—and misleading at worst.

On January 1, Ontario and Alberta adopted broad-based carbon pricing policies. Alberta opted for a carbon tax while Ontario chose a cap-and-trade system. Alberta’s carbon tax is $20/t of carbon dioxide in 2017, while permits in Ontario’s cap and trade system currently trade at about $18/t of carbon dioxide.

In these early days of carbon pricing, detailed empirical analysis is necessarily limited. Our brief analysis shows that the direct effect of carbon prices will be about $150 (Ontario) to $200 (Alberta) per year for an average household. The indirect effect on carbon pricing on the goods and services we buy will be on the order of $100 for the typical household in 2017. Of course, even modest cost increases may be challenging for many households but rebates can effectively mitigate these concerns. In Alberta, lump-sum rebates will be sufficient to ensure low- and middle-income households aren’t (on average) made worse-off by carbon taxes. Ontario meanwhile has no explicit support program, but has a variety of other initiatives.

Read The cost of carbon pricing in Ontario and Alberta by Trevor Tombe and Nicholas Rivers at Macleans.ca.

January 9, 2017 at 12:19 pm Leave a comment

The Minnesota Series: Original Thinking from the American Midwest

In October 2013, SFU hosted an urban planning lecture featuring Charles Marohn.

Marohn is the co-founder and president of Strong Towns, and a professional engineer who is passionate about planning and small towns. He brings a civil-engineering perspective that results in original ideas such as the “stroad,” a street/road hybrid that manages to be both expensive and unproductive. He’s a fiscal conservative who makes his case effectively to a small-government audience as much as to urban planners and engineers.

September 19, 2016 at 10:49 am Leave a comment

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