Welcome to Net Zero, your daily industry report on clean energy and Canadian resource policy.
The United Nations Intergovernmental Panel on Climate Change (IPCC) published its long-awaited report on Monday, revealing the dire effects human activity has had on climate change.
“Things are guaranteed to get worse,” said report co-author Linda Mearns, a senior climate scientist at the US National Center for Atmospheric Research. “There is no place to run, no place to hide.”
In the 2015 Paris climate agreement, countries pledged to limit global temperature increases to 1.5 C above the end of 19.th century levels. However, “the world has already warmed by almost 1.1 C in the last century and a half”, The Associated Press reports.
The report sets out five different perspectives for the future, but no matter how emissions are reduced, the findings suggest that the 1.5 C limit will be exceeded in the 2030s.
“Our report shows that we must be prepared to enter that level of warming in the coming decades. But we can avoid higher levels of warming by acting on greenhouse gas emissions, ”said report co-chair Valerie Masson-Delmotte, a climate scientist at the French Laboratory for Climate and Environmental Sciences at the University of Paris-Saclay.
“The effects of global warming are no longer in the distant future or in remote corners of the world,” said Michael Byrne, a climate researcher at the University of Oxford. “We knew what was coming and now it’s here.” CNN has more.
Ultimately, if net zero emissions commitments by 2050 are not met, the report suggests that “global average temperatures will continue to rise, potentially passing 2, 3 and even 4 C, compared to the pre-industrial era.” The report also highlights the increasing occurrence of extreme weather events.
“There is no going back from some changes in the climate system,” said Ko Barrett, vice chair of the panel and senior adviser on climate for the National Oceanic and Atmospheric Administration. But, he added, immediate and sustained emissions cuts “could really make a difference in the climate future that lies ahead.” The New York Times has more details.
The US state of Minnesota has been sued by the White Earth Band of Ojibwe for allowing Enbridge, a Calgary-based power company, to “divert water as part of its North North East Line 3 pipeline replacement project. condition”.
The tribe says the diversion of 5 billion gallons of water violates their rights in addition to the rights to their cultivation of wild rice.
However, Enbridge spokesman Michael Barnes says “Line 3 building permits include conditions that specifically protect wild rice waters.” Reuters has more.
Meanwhile, the Dakota Access pipeline will increase the amount of oil it carries from 570,000 barrels per day to 750,000 deeds. The Associated Press.
“This is outrageous,” said attorney Jan Hasselman, who represents the Standing Rock Sioux tribe. “This is a pipeline that does not have federal permits to cross the Missouri River. It is the subject of federal enforcement action due to multiple security breaches and instead of ticking back, they are pushing even more oil. “
KoBold Metals, a California-based mineral exploration company, will pay Bluejay Mining, a London-based company, $ 15 million to search for critical minerals used in the manufacture of electric vehicles (EV). KoBold, which is funded by billionaires like Jeff Bezos and Bill Gates, will receive a 51 percent stake in the Disko-Nuussuaq site project in Greenland. Reuters it also has this story.
Finally, Saudi Arabia’s state oil company Aramco posted a net profit of 95.47 billion riyals ($ 25.46 billion) for the second quarter of this year, a higher than expected increase from the 24.62 billion riyals reported last year.
Monday morning at 8:57 am, West Texas Intermediate was trading at $ 65.86 and Brent Crude was trading at $ 68.28.
Michipicoten First Nation in northern Ontario says pulp and paper producer Domtar was unable to clean up contamination from its wood waste site and this failure has affected the surrounding environment.
The Domtar property is located next to the traditional lands of Michipicoten, near Chapleau. Michipicoten plans to take legal action according to CBC News.
“We are warning the government and industry that First Nations people will no longer tolerate environmental pollution and degradation of our lands,” said Chief Patricia Tangie. “We are going to hold them accountable.”
Minister of Natural Resources Seamus O’Regan announced $ 407,000 in financing on Friday to support research and development of “a cyber security system to protect Canada’s critical energy infrastructure.” The funding will be used by the University of Waterloo.
“Our lives have become increasingly digital, which means that the security threats we face are also becoming digital. We are investing in cutting-edge technologies with universities and industry leaders to protect Canada’s energy sector from cyber threats and keep our critical infrastructure safe, ”O’Regan said in a statement.
Meanwhile, the federal government has rejected plans for the proposed Grassy Mountain coal project in southwestern Alberta.
“The best thing for Canada is to protect our waterways for healthy fish stocks like Westslope cutthroat trout, respect the culture and way of life of indigenous peoples and protect the environment for future generations,” said the Environment Minister. Environment and Climate Change, Jonathan Wilkinson, in a statement. The Canadian Press has more on that.
Finally, Brookfield Infrastructure LP’s takeover bid for Inter Pipeline Ltd. failed to win enough shareholders before Friday’s deadline, causing the deadline to be postponed until August 20. The balloon and the mail has the latest.