Canadian Environmental Policy vs. Trump: Navigating Climate Challenges in a Divided Globe

Welcome to Globe Climate, your go-to source for updates on climate change and environmental issues in Canada.

Right now, U.S. tariffs are a big deal across many sectors in Canada. They also impact our climate goals. Recently, President Trump announced that the U.S. would exit the Paris climate agreement again. Canadian Environment Minister Steven Guilbeault condemned the decision, calling it “deplorable.” While some in the oil and gas industry may welcome this news, it complicates plans to shift to cleaner energy.

Here’s a quick look at what else is happening in the climate world this week:

1. Trade: Canada’s cleantech sector is facing pressure as tariffs loom, demanding it become competitive without subsidies.
2. Oil and gas: Increasing U.S. oil production won’t be as easy as just drilling.
3. Electricity: An industry group in Quebec wants the government to reconsider planned electricity rate hikes.
4. Resources: Alberta is reportedly ignoring advice from its citizens on coal policy.
5. Policy: There’s confusion in the industry about Trump’s plans to roll back green spending.
6. Ice: Scientists are studying the Rideau Canal as people skate, looking for ways to maintain the ice.
7. Water: Regulators are seeking answers about a boil-water advisory in Halifax.
8. Arts: Author Harley Rustad has launched a retreat focused on wilderness writing.
9. Listen: Check out The Decibel to learn how the L.A. wildfires might affect Canadian insurance rates.
10. From The Narwhal: The Toronto-area national park will expand as the federal government cancels airport plans.

In-depth Insight:

This week’s deeper dive focuses on how banks are stepping back from their climate commitments. Back in 2021, during the Glasgow climate summit, there was excitement about the financial sector committing to clean energy goals. However, now, many banks seem to be rethinking those promises. Major U.S. banks have already exited the Net-Zero Banking Alliance, leading to five of Canada’s Big Six banks following suit. Only the Royal Bank of Canada remains in this group.

Many banks cite individual support for decarbonization instead of collective commitments. Climate activists are critical of these retreats, believing that moving away from such initiatives only highlights how many banks still fund fossil fuels heavily.

Richard Brooks from Stand.earth expressed disappointment that banks are stepping back from even modest climate initiatives amid current climate crises. This trend raises concerns about corporate accountability in fighting climate change.

What’s Happening Beyond the Headlines:

Recent opinions discussing climate change include opinions on Denmark’s Orsted’s challenges in the U.S. and insights on protecting homes from disasters. A deeper look suggests wildfire risks in L.A. might not be far from Canada’s reality.

Green Investments:

Big brands are teaming up to push for sustainable fuels as emissions targets approach. Companies like Netflix, Google, Amazon, and IKEA have joined alliances to promote investments in clean energy. These partnerships underscore the market’s potential for sustainable fuels, yet experts remind us that individual brands alone cannot achieve decarbonization.

Photo of the Week:

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