Every two weeks, Mike Moffatt, Senior Director at SPI, explores five things to watch in the green economy in a segment for Smart Prosperity: The Podcast. Click here to listen to this week's episode.
1) This week, the federal government is presenting an updated climate plan. This is the first of the emissions reduction plans mandated under the recent Net Zero Accountability Act, which obligates the federal government to table regular plans that keep it on track for its 2030 and 2050 commitments. Canada is among just a few countries that have made its climate targets into law.
2) Tech firms Stellantis and LG Energy announced a massive 4.9 billion dollar investment to build an electric vehicle battery plant in Windsor Ontario. The lithium-ion battery manufacturing facility will be the first of its kind in Canada and will generate 2500 jobs. The federal and Ontario governments are both contributing funds to the project.
3) The Government of Canada’s first-ever green bond was issued last week. The bond, which offers a competitive return on investment for select environmental-related projects, was heavily oversubscribed, more than doubling its 5 billion dollar cap.
4) Friday marks the annual increase for Canada’s carbon price floor, from 40 to 50 dollars per tonne of carbon pollution. The price schedule, established in 2019, sees the carbon price gradually rise to 170 dollars per tonne of carbon pollution in 2030. It is the biggest single pollution-cutting policy in the federal climate plan.
5) The GLOBE Forum is on this week. The event takes place every two years in Vancouver and draws business and environment leaders from around the world to advance solutions for a greener global economy. This year’s theme is: “Destination Net Zero”.
Listen to the full segment, and plenty of other great content, in today's new episode of Smart Prosperity: The Podcast. Our podcast provides fresh takes on the current affairs, politics, research and business of the clean economy. New episodes posted every two weeks.