Net Zero is your daily industry update on clean energy, Canadian-resource politics and more.
The Lead
On Wednesday, the Senate introduced a bill to update Canada’s fundamental environmental protection law. Sen. Marc Gold, who is the representative of the government in the upper house, introduced the Senate bill S-5, known as the Strengthening environmental protection for a healthier Canada Act.
It is the same bill as the one introduced in April 2021 but it died on the order papers after the election was called. The bill was not passed beyond the first reading in the previous Parliament.
Because Canadians are aware of the urgency, our government is reintroducing the bill with the same language as before. Stephen Guilbeault from Environment Minister said that this bill must be passed as quickly as possible.
The bill recognizes a right for healthy environments for the first time. However, it will take two years for government to determine how that will work. The government will open consultations with all stakeholders. iPolitics has more details.
Internationally
Germany’s climate envoy was officially introduced Wednesday. American Jennifer Morgan, who was formerly the head of Greenpeace International, was described by Annalena Baerbock, Germany’s Foreign Minister, as a “dream” candidate. ReutersThis is their story.
Still in Europe, Spain’s Energy and Environment Minister Teresa Ribera said the EU has failed to impose a “gold standard” for green finance by labelling gas and nuclear energy as sustainable.
Meanwhile,New York’s state pension fund will divest $238 million worth of stock from 21 shale oil and gas companies.
“To protect the state pension fund, we are restricting investments in companies that we believe are unprepared to adapt to a low-carbon future,” said New York Comptroller Thomas DiNapoli. ReutersThat story is also available.
Headwaters Economics, an independent research group, has created A free online tool calledNeighbourhoods At Risk allows users to learn more about their local climate risks. The HillThere are many more.
On Thursday morning, at 9:13 a.m. West Texas Intermediate traded at US$89.99, while Brent Crude was trading for US$91.82.
Canada
POLITICO and Morning Consult have conducted a new poll that shows that most Green, NDP, and Liberal Party supporters consider climate changes a top concern. Only one in five federal Conservative supporters agrees. POLITICO has more on the survey’s findings.
In Alberta, the provincial government is seeking$1.3 billion in compensation from the U.S. government following President Joe Biden’s cancellation of the Keystone XL pipeline. Alberta stated that it has filed a notice to initiate a claim under legacy rules relating to the old North American Free Trade Agreement. The Canadian PressThis is the complete story.
Health Canada has released a report on how climate change will affect individual health, including extreme heat events, wildfires and floods. The full news release can be accessed here Here.
Finally, the federal government’s rejection of GNL Quebec’s liquefied natural gas plant and export project in Saguenay, Que., appears to be the final nail in the coffin for the nergie Saguenay project that was previously denied by the province in July 2021.
“It’s a great relief for us. This is the first LNG terminal that’s been blocked by a government. It’s a big step to end the era of (fossil) fuels,” said Adrien Guibert-Barthez who lives in Saguenay, a two-hour drive north of Quebec City, and is a spokesperson for Coalition Fjord, a group that actively opposed the project and the impact it would have on the environment. CBC NewsThere are many more.
Canadian Crude Index was trading at US$75.15, while Western Canadian Select was trading for US$75.56This morning at 9:14 AM
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