THIS WEEK

Ontario really needs a climate plan, America's next great migration, and you'll never guess which city has Canada's largest solar rooftop.

GLOBAL FINANCE

Listen to the Bank of England

Banks are doing too little, too late when it comes to climate change. So says the Bank of England, which found that while most banks were treating climate change as a financial risk—and not just a social responsibility—only one in ten were taking a long-term strategic view.

"A 'too little, too late' scenario, where significant action is taken—but too late to achieve climate goals—could result in the most severe financial risks crystallizing in the banking sector," the Bank of England says in a new report. "Financial risks from climate change will be minimized if there is an orderly market transition to a low-carbon world, but the window for an orderly transition is finite and closing."

No plan is not a plan

Environmental Commissioner of Ontario Dianne Saxe didn't mince words in her 2018 Greenhouse Gas Progress Report released last week. The province is warming faster than the global average—Ontario is 1.5°C hotter than it was in 1948—with no clear plan in place to address the challenge. Read Clean Energy Canada's response here.

America's next major migration

By the end of this century, 13 million Americans could find themselves moving to escape the impacts of climate change, according to one study—including six million just in Floria.Though, as one researcher notes, "It is very difficult to model human behaviour under such extreme and historically unprecedented circumstances." Read the feature story here.

Giveth and taketh, but mostly giveth

In September, a new report found that most Canadians would actually profit if the federal carbon price gave the money it collected directly back to households. But if money is just moving around, is it really making an emissions difference? Sure is. An explainer for the wonks.

How a big Canadian company leads on climate

Canada's Aldo just became the first fashion footwear company in the world to offset all of its carbon pollution: "I don't believe anyone who’s in a business to consumer business would say that their consumer doesn't care about climate change."

From cars to mobility: Uber's big pivot

The company that's synonymous with ride-sharing no longer wishes to be synonymous with ride-sharing. Uber recently acquired an electric bike sharing startup and added the option of taking transit to its app. Now Uber is investing $10 million to promote solutions like congestion pricing.

Developing nations now leading the transition

In 2018, emerging countries will overtake developed nations in terms of installed wind and solar power, according to Moody's. China is, unsurprisingly, the world's biggest renewable electricity market—but interestingly India has moved into third place.

Low risk, low returns

Big risks, big payoffs: such has been the way of life for oil and gas companies. Clean energy, however, is the opposite, and that may take some getting used to: “Although they understand from a risk perspective the projects are a much lower risk than they would be used to in the oil and gas space, the returns are typically quite lower as well.”

More practical than 'largest hockey stick'*

Airdrie, Alberta, will soon be home to Canada’s largest solar-panelled rooftop. The project will offset 28% of the recreational facility's electricity—resulting in over $100,000 in savings per year. It will also have the pollution impact of taking 194 vehicles off the road. Talk about a win-win.

*Sorry, Duncan, B.C.

Harder, better, (cleaner), stronger

A Bill-Gates-led fund is investing $100 million in Nova-Scotia-based CarbonCure, whose technology cuts emissions from concrete. CarbonCure was one of nine companies to receive money from the $1-billion fund last week—and the only one in Canada.

Clean Energy Review is sponsored in part by Genus Capital Management, a leading provider of fossil-fuel-free investments.

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IMAGE & MEDIA CREDITS

Chart: Bank of England

Clean Energy Review is a weekly digest of climate and clean energy news and insight from across Canada and around the world—plus a peek over the horizon.

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