{"id":9416,"date":"2024-10-10T16:35:03","date_gmt":"2024-10-10T16:35:03","guid":{"rendered":"https:\/\/www.rbc.com\/en\/thought-leadership\/climate-crunch-a-northvolt-sized-problem-green-taxonomy-dead-tree-emoji\/"},"modified":"2024-10-10T16:35:03","modified_gmt":"2024-10-10T16:35:03","slug":"climate-crunch-a-northvolt-sized-problem-green-taxonomy-dead-tree-emoji","status":"publish","type":"rbc_tl","link":"https:\/\/www.rbc.com\/en\/thought-leadership\/climate-action-institute\/climate-crunch\/climate-crunch-a-northvolt-sized-problem-green-taxonomy-dead-tree-emoji\/","title":{"rendered":"Climate Crunch: A Northvolt-Sized Problem, Green Taxonomy, Dead Tree Emoji"},"content":{"rendered":"

Issue #02<\/span><\/p>\n

\u2794<\/span> Quebec\u2019s Northvolt-sized problem
\n\u2794<\/span> A made-in-Canada climate taxonomy to attract green capital
\n\u2794<\/span> Reimagining Canada\u2019s industrial carbon pricing system<\/p>\n

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Hot takes<\/h3>\n

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\u2794<\/span> King Coal\u2019s rein ended in the U.K\u2014the first G7 country to do.<\/strong> Here in Canada, Alberta banished coal-generated power this year, but Saskatchewan, Nova Scotia<\/strong> and New Brunswick<\/strong> are still figuring out ways to rid coal off their grids. Shaz Merwat<\/strong>, our energy policy lead, suggests the switch to renewables, coupled with battery storage and natural gas are preferred coal-switching solutions for the rest of the decade. The pursuit of Net Zero, however, will involve carbon capture adoption and the often thorny issue of greater inter-provincial connectivity.<\/p>\n

\u2794<\/span> Canada advanced its guidelines for sustainable investments.<\/strong> The new climate taxonomy <\/a>aims to guide investors, banks, and other stakeholders seeking clearly-marked \u201cgreen\u201d and \u201ctransition\u201d economic activities. It\u2019s an important step in Canada\u2019s sustainable finance journey, especially as trillions of dollars of capital eyes verifiable green and transition investment opportunities. The Canadian taxonomy can help attract private capital, which is vital for economic growth and emissions cuts. While there\u2019s much work to be done\u2014including some important definitions of end-use for natural gas if it\u2019s to be sold as a transition fuel\u2014it\u2019s a milestone in Canada\u2019s Net Zero journey.<\/p>\n

\u2794<\/span> There\u2019s a new energy in Calgary<\/strong>. Institute head John Stackhouse<\/a> found the city fired up as he attended the Energy Disruptors Unite <\/strong>conference recently. Some of his top observations: Nuclear is back, ESG isn\u2019t dead, and Indigenous equity is the new gold standard of engagement. Read John\u2019s 10 takeaways here<\/a>.<\/p>\n

\u2794<\/span>\u2026 Speaking of new energy\u2026:<\/strong> TC Energy\u2019s spin-off of its oil pipeline business to pivot to lower-energy carbon sources is a new iteration for the 70-year-old Calgary firm. Natural gas and power and energy solutions <\/a>, \u201cdriven by nuclear, pumped hydro storage and new energy opportunities,\u201d gives the firm exposure to utility-like assets. Another energy-transition plus: the potential expansion of the 4,800-megawatt nuclear capacity at the Bruce C<\/a> project at its existing Bruce Power site in Ontario.<\/p>\n