USA Is #1 In The World For Renewable Energy Investment Attractiveness
The United States has apparently regained #1 in EY’s Renewable Energy Country Attractiveness Index (RECAI), a biannual report that has been put out since 2003.
The United States has apparently regained #1 in EY’s Renewable Energy Country Attractiveness Index (RECAI), a biannual report that has been put out since 2003.
Citing the coronavirus epidemic, the Alberta Energy Regulator (AER) indefinitely suspended 19 environmental monitoring requirements for oil sands producers such as Syncrude, Suncor, Imperial Oil, and CNRL.
The Norwegian Sovereign Wealth Fund has sold $3 billion worth of energy stocks and other companies it finds are seriously harming the environment. Most of the stocks it sold in the energy sector are for Canadian companies involved in producing and distributing oil derived from the Alberta tar sands.
Norges Bank Investment Management, which manages Norway’s sovereign wealth fund, has made a powerful stance in favor of climate action.
A Canadian Tesla owner who purchased the Tesla Model Y with 7 seats has reportedly received a phone call from Tesla asking if he would be ready to take delivery of this Model Y in the second quarter of 2020.
Both Norway and Alberta, Canada are economies that gain huge profits from selling oil. They have huge natural reserves of it and make ginormous profits from feeding our “need” for oil powered transportation. However, their method of deploying those profits is in sharp contrast, and interestingly it even guides their philosophies and how they view climate change.
As we deal with the fallout of the big Cs — climate change and the coronavirus — we need to be able to rapidly adapt our urban fabric and buildings.
The oil and gas industry will shudder slowly to a halt. It will collapse, leaving the remediation to Canadian tax payers.
We foresee a softening of new commercial construction, a reduction in cosmetic renovations of existing stock, an increase in renovations focused on improving the net operating income including a strong focus on heat pumps displacing gas furnaces and existing air conditioning and an increased shift to distribution-center business models.
When will Canada learn? Stop throwing money at the fossil fuel industry. Let it live or die on its own with its decades of profits. Shift investment to clean technologies, technologies which are also much lower in contagion pathways for Canadians. Stop investing in the past and start investing in the future.