With the country facing significant and unpredictable headwinds going into another federal election year, the 2019 Alternative Federal Budget (AFB) shows that Canada can boost competitiveness and encourage innovation by investing in people, not by giving corporations more tax cuts.
There is no denying the utility of fossil fuels, which meet 85% of the world’s energy needs. And consumption is rising along with emissions. Even in Canada, the second largest hydropower producer in the world, 76% of end use energy is provided by fossil fuels.
In its first year in power, the new BC government has increased the BC carbon tax and improved the carbon credit, has created a new Climate Solutions and Clean Growth Advisory Council, and has legislated a new medium-term target of 40% reduction in greenhouse gas emissions by 2030.
At the end of June 2018, CCPA-BC Resource Policy Analyst Ben Parfitt was asked to make a presentation to the Province's Scientific Hydraulic Fracturing Review Panel because of his research into “water storage” issues in northeast British Columbia.
If you have a public pension in BC, your retirement savings are likely fuelling the climate change crisis. The pensions of over half a million British Columbians are administered by the British Columbia Investment Management Corporation (BCI), formerly known as the bcIMC. It’s the fourth largest pension fund manager in Canada and controls one of province’s largest pools of wealth totalling $135.5 billion dollars.
The British Columbia Investment Management Corporation (BCI), formerly known as bcIMC, is a financial institution most British Columbians aren’t aware of. Its actions, however, are essential to BC’s and Canada’s ability — or inability — to address the climate change crisis.
The British Columbia Investment Management Corporation is a little-known financial institution, however, its actions are vital to BC’s and Canada’s ability—or inability—to address the climate change crisis, says a new Canadian Centre for Policy Alternatives and Corporate Mapping Project report. As the steward of BC’s public pensions, it is unacceptable that the Corporation (BCI) is bankrolling companies whose current business models exceed the climate change targets agreed to in the Paris Agreement, say the report authors.
Here at the CCPA, we're constantly thinking about what needs to change in our lives, our economy and our ways of governing to make society more equitable, and life more fulfilling, for the greatest number of people. Broadly speaking, you could say our mandate is transition, the theme of this summer edition of the Monitor. By transition we mean a fair and just progression from today's extractives-based, exhausting and unequal economy to a more sustainable, pro-worker and frankly more human future.
Earlier this year, Premier John Horgan announced that the British Columbia government was prepared to offer billions of dollars in tax breaks to Royal Dutch Shell should the global fossil fuel giant build a massive liquefied natural gas plant on our province’s north coast. Absent from the news then, however, was any mention of how the public is being shortchanged billions of dollars in revenues from the fossil fuel industry regardless of whether Shell proceeds with its LNG Canada project or not.