Welcome to Net Zero, your daily industry brief on clean energy and Canadian-resource politics.
A new report from the think tank Institute for Economics and Peace (IEP) suggests that climate change will exacerbate resource degradation and conflict in various parts of the world. Food insecurity, lack of water and the impact of natural disasters, combined with high population growth, are intensifying conflict and displacing people in vulnerable areas, according to the report’s findings.
The IEP analyzed data from the UN and other sources to predict countries and regions most at risk. Afghanistan received the worst score on the report, which noted that the country’s ongoing conflict has damaged its ability to cope with risks to water and food supplies, climate change, and alternating floods and droughts.
The criteria used to assess countries is based on three issues relating to scarcity of resources, and five issues focusing on disasters including floods, droughts and rising temperatures.
“We don’t even need climate change to see potential system collapse, just the impact of those eight ecological threats can lead to this – of course climate change is reinforcing it,” said Serge Stroobants, IEP director for Europe, the Middle East and North Africa said. Reuters has more details.
On Thursday, The United Arab Emirates became the latest country to commit to achieving net-zero greenhouse gas emissions. The announcement was accompanied by a pledge to invest $163 billion in renewable energy over the next couple of decades. This made the UAE the first country in the Middle East and North Africa region to announce a concrete plan to achieve the climate commitment. Reuters has the full story.
Ahead of the upcoming COP26 climate summit in Glasgow, the European Union and U.S. are urging China to step up its targets on greenhouse gas emissions.
“We hope China will join us in this effort to have serious enough reductions,” U.S. climate envoy John Kerry said on Thursday.
Outgoing German Chancellor Angela Merkel met with Pope Francis during a farewell visit to the Vatican and Italy, where the two discussed climate change.
“Humanity’s response to climate change will require a radical change in our way of living,” Merkel told reporters. The pair also discussed biodiversity, the future of the European Union, world conflicts and sexual abuse in the Church.
Meanwhile, Gwede Mantashe, South Africa’s mining and energy minister, said the nation should not rush its move away from coal. Reuters also has that story.
On Friday morning at 9:52 a.m., West Texas Intermediate was trading at US$79.59 and Brent Crude was going for US$83.01.
Former Bank of Canada governor Mark Carney’s credibility as a global climate finance leader has been called into question by environment lobby groups who claim Carney is allowing the world’s biggest banks to use him as cover to keep funding fossil fuels.
As part of Carney’s current role as UN special envoy on climate action and finance, he is chairing the Glasgow Financial Alliance for Net Zero, which aims to get major financial institutions to commit to achieving net-zero emissions by 2050.
A coalition of more than 90 Canadian and international environment groups published ads Thursday in the Toronto Star and Financial Times urging Carney to intensify the membership requirements for that alliance. The Canadian Press has that story.
Experts are claiming that the energy crisis that has plagued Europe and parts of Asia in recent months has arrived in Canada, as gas prices are surging across the country. CBC News tells you what to expect in the coming weeks.
The Vancouver International Airport announced its intention to achieve net zero emissions by 2030 on Thursday. The Vancouver Sun has more on that story.
Finally, Calgary-based TC Energy has entered into an agreement with Nikola, an electric vehicle manufacturer, to jointly develop large-scale hydrogen production facilities across North America. The Canadian Press has the details.
Canadian Crude Index was trading at US$64.85 and Western Canadian Select was going for US$65.60 this morning at 9:52 a.m.