Topic Environmental
Rising seas: Delays to safeguarding N.S.-N.B. boundary area worries politicians
October 28, 2021 by Michael Tutto - THE CANADIAN PRESSHALIFAX – Legislators on both sides of the Nova Scotia-New Brunswick boundary say efforts to safeguard their area from a potential climate disaster have dragged on too long. An engineering study commissioned to develop “three viable solutions” to the risk…
B.C.’s climate change plan aims for changes by 2030 for consumers, industry
October 26, 2021 by The Canadian PressVICTORIA – British Columbia has introduced a plan to reach its legislated target to reduce greenhouse gas emissions by 2030 with initiatives like slashing the number of kilometres driven by 25 per cent compared with last year and boosting the…
Salvage crew’s access to smouldering ship hampered by storm on B.C.’s coast
October 25, 2021 by The Canadian PressVICTORIA – The Canadian Coast Guard says a fire aboard a container ship off the coast of Victoria continues to smoulder. The coast guard says in a statement posted on social media that a salvage crew from Resolve Marine is…
Offshore oil and gas regulator lays charges against Cenovus Energy for 2018 spill
October 20, 2021 by The Canadian PressST. JOHN’S, N.L. – Canada’s offshore oil and gas regulator has laid three charges against a Cenovus Energy Inc. subsidiary stemming from a huge oil spill off the coast of Newfoundland in 2018. The Canada-Newfoundland and Labrador Offshore Petroleum Board…
Ignoring ESG means ‘significant’ D&O risk to insurers and business: AGCS
October 19, 2021 by Canadian Underwriter StaffBusinesses and insurers ignore environmental, social and governance (ESG) issues at their peril, an Allianz Global Corporate & Specialty (AGCS) report released this month suggests. “If an ESG issue is not handled or disclosed appropriately by the company or board,…
How much are reinsurers underestimating climate change risk?
October 18, 2021 by Jason ContantGlobal reinsurers could be underestimating climate change exposure by up to 50%, according to a recent analysis by S&P Global Ratings. “Our scenario analysis suggests that reinsurers’ estimates of their exposure to natural catastrophe risk — and therefore physical climate…
Canada leads world with pledge to curb methane leaks from oil and gas sector
October 15, 2021 by Mia Rabson - THE CANADIAN PRESSOTTAWA – Canada is nearly doubling its target to cut methane emissions from the oil and gas sector as it prepares to sign a new global pledge at next month’s climate talks in Scotland. The colourless and odourless gas amounts…
Montreal-made website uses AI to show impacts of climate change on any address
October 14, 2021 by Tara Deschamps - THE CANADIAN PRESSTORONTO – Imagine Parliament Hill blanketed in orange skies, floodwaters climbing the sides of BC Place stadium or a thick layer of smog fogging the view of Halifax from Citadel Hill. These are all scenes depicted on a website published…
Peatlands protect against wildfire and flooding, but they’re still under attack in Canada
October 13, 2021 by The Canadian PressBy Edward Struzik, Fellow, Queen’s Institute for Energy and Environmental Policy, School of Policy Studies, Queen’s University, Ontario. This article was originally published on The Conversation, an independent and nonprofit source of news, analysis and commentary from academic experts. Disclosure…
Regulator expects more frequent volatility in financial sector
September 30, 2021 by Ian Bickis - THE CANADIAN PRESSTORONTO – The head of Canada’s banking regulator warned Wednesday of the potential for increased volatility in the global financial system as risks, especially around climate change and digital finances, are on the rise. “My new responsibility requires that I…
Enbridge says Line 3 ‘substantially complete,’ will be in service on Friday
September 29, 2021 by Amanda Stephenson - THE CANADIAN PRESSCALGARY – Enbridge Inc.’s Line 3 pipeline replacement project, a critical piece of export infrastructure for Canada’s energy sector, will be in service on Friday. The pipeline giant said Wednesday the 1,765-km Line 3 – which will carry oil from…
Canada’s warming may hurt access to insurance: DBRS
September 24, 2021 by James Langton - Investment ExecutiveAn increase in extreme weather events may threaten the availability of property insurance in Canada, warns DBRS Morningstar in a new report. The rating agency said that Canadian property and casualty (P&C) insurers have, so far, proven resilient in the…