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Only a far-reaching climate plan will transform the Canadian economy – iPolitics.ca

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As hope for the end of the COVID-19 pandemic grows with encouraging news about vaccines, the Liberal government will increasingly turn its attention to recovery, and its promise to make climate change a central focus of the economy’s rebuilding.

Last month, Environment Minister Jonathan Wilkinson tabled legislation that will enshrine the governments goal of making Canada a net-zero emitter of greenhouse gases (GHGs) by 2050. However, while setting an ambitious target is one thing, meeting it is quite another.

Prime Minister Justin Trudeaus government is now at a critical juncture, even as he’s hemmed in by Conservative premiers who resist his climate-change agenda.

The Liberals can either continue the slow march with targeted and modest actions, or implement a far-reaching climate plan that will transform the Canadian economy and position it to prosper in a zero-carbon world.   

To reach that more ambitious goal, the government will have to kickstart the effort with a stimulus plan that plows tens of billions of dollars into clean-energy programs. But the Trudeau government will also have to go far beyond the frequently heard calls for public spending on high-profile energy projects. 

It will need the entire government to adopt a climate lens, as opposed to its current practice of creating boutique programs in departments such as Agriculture; Natural Resources; or Innovation, Science and Economic Development, while the rest of the bureaucracy carries on with business as usual.   

The prime minister is unlikely to get much help from key provinces, as he did in 2016, when federal, provincial and territorial governments hammered out the Pan-Canadian Framework on Clean Growth and Climate Change. However, Ottawa can forge partnerships with municipalities — and with the private sector, which is far more committed to action than it was four years ago.

The enormous impact of capital markets could dwarf the public-sector effort to effect a zero-carbon transformation. To harness it, the government must step up and lead the effort to enshrine the principles of sustainable finance that properly value the risks and opportunities arising from the growing climate crisis and the global response to it.

In responding to the pandemic this year, the federal government delayed much of its climate-change agenda. It focused instead on providing financial support to individuals and businesses, including the oil industry, which was struggling before the pandemic and has been clobbered by the resulting global drop in demand for crude.  

In a November report, the Winnipeg-based International Institute for Sustainable Development said Canada, along with other Group of 20 industrialized countries, doubled downon its fossil-fuel subsidies this year, despite long-standing promises to end them. It rated Canadas record of fossil-fuel subsidies between 2016 and 2019 very poor.

EnergyPolicyTracker.org, which is produced by two European non-government organizations, calculated that, as of Nov. 18, Canada had provided some $18.6 billion in conditional and unconditional support to the fossil-fuel sector, and only $14.6 billion to support clean energy. It characterized as conditional supportthe $2.4 billion that Ottawa spent on cleaning up abandoned oil wells and helping industry reduce methane emissions.

Meanwhile, the Liberal governments lobbying of president-elect Joe Biden to approve the Keystone XL pipeline sends a clear message that, despite its public promise of net-zero emissions by 2050, Ottawa remains committed to building fossil-fuel infrastructure whose normal lifespan is around 30 years.

So what would an ambitious, climate-focused recovery plan look like?

For starters, it would be securely anchored in the governments commitment to exceed its existing target under the Paris Agreement to reduce GHGs by 30 per cent below 2005 levels by 2030, and to reach net-zero emissions by 2050. It must also be rooted in a just transition,with education, training, and other support to ensure individual Canadians — oil-industry workers, Indigenous people, and others who are already disadvantaged in the current economy — dont fall further behind. 

It would allocate billions of dollars annually over several years on a range of clean-energy programs. The Task Force for a Resilient Recovery — a group largely drawn from think tanks, with some business members — says $55.4 billion should be spent over five years on clean-energy infrastructure, building retrofits, electric-vehicle infrastructure, nature-based programs, and the production and adoption of clean technology across the economy.

A bold plan would involve the federal government spending its vast procurement budget on incentives for companies to adopt clean-tech solutions to lower their own GHG emissions, and, just as important, to commercialize and drive down the cost of innovative technologies.

As mentioned, it would embrace principles of sustainable finance, and make it clear to corporate directors, and managers of public-sector pension plans, that they have a fiduciary duty — that is, a legal obligation — to ensure their organizations are part of the solution, rather than part of the problem in the climate emergency.

The response to the COVID pandemic around the world demonstrates the power of collective action when governments and the private sector collaborate. Witness the unprecedented speed of vaccine development. It also shows the tragic results that occur when leaders ignore the science and refuse to take tough action in the face of a crisis.

The Liberal governments actions over the next several months will tell whether it has the guts to lead, or will content itself with lofty promises unmatched by bold action.


The views, opinions and positions expressed by all iPolitics columnists and contributors are the author’s alone. They do not inherently or expressly reflect the views, opinions and/or positions of iPolitics.

This article originally appeared in the iPolitics Holiday Magazine published earlier this month.

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Business

A timeline of events in the bread price-fixing scandal

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Almost seven years since news broke of an alleged conspiracy to fix the price of packaged bread across Canada, the saga isn’t over: the Competition Bureau continues to investigate the companies that may have been involved, and two class-action lawsuits continue to work their way through the courts.

Here’s a timeline of key events in the bread price-fixing case.

Oct. 31, 2017: The Competition Bureau says it’s investigating allegations of bread price-fixing and that it was granted search warrants in the case. Several grocers confirm they are co-operating in the probe.

Dec. 19, 2017: Loblaw and George Weston say they participated in an “industry-wide price-fixing arrangement” to raise the price of packaged bread. The companies say they have been co-operating in the Competition Bureau’s investigation since March 2015, when they self-reported to the bureau upon discovering anti-competitive behaviour, and are receiving immunity from prosecution. They announce they are offering $25 gift cards to customers amid the ongoing investigation into alleged bread price-fixing.

Jan. 31, 2018: In court documents, the Competition Bureau says at least $1.50 was added to the price of a loaf of bread between about 2001 and 2016.

Dec. 20, 2019: A class-action lawsuit in a Quebec court against multiple grocers and food companies is certified against a number of companies allegedly involved in bread price-fixing, including Loblaw, George Weston, Metro, Sobeys, Walmart Canada, Canada Bread and Giant Tiger (which have all denied involvement, except for Loblaw and George Weston, which later settled with the plaintiffs).

Dec. 31, 2021: A class-action lawsuit in an Ontario court covering all Canadian residents except those in Quebec who bought packaged bread from a company named in the suit is certified against roughly the same group of companies.

June 21, 2023: Bakery giant Canada Bread Co. is fined $50 million after pleading guilty to four counts of price-fixing under the Competition Act as part of the Competition Bureau’s ongoing investigation.

Oct. 25 2023: Canada Bread files a statement of defence in the Ontario class action denying participating in the alleged conspiracy and saying any anti-competitive behaviour it participated in was at the direction and to the benefit of its then-majority owner Maple Leaf Foods, which is not a defendant in the case (neither is its current owner Grupo Bimbo). Maple Leaf calls Canada Bread’s accusations “baseless.”

Dec. 20, 2023: Metro files new documents in the Ontario class action accusing Loblaw and its parent company George Weston of conspiring to implicate it in the alleged scheme, denying involvement. Sobeys has made a similar claim. The two companies deny the allegations.

July 25, 2024: Loblaw and George Weston say they agreed to pay a combined $500 million to settle both the Ontario and Quebec class-action lawsuits. Loblaw’s share of the settlement includes a $96-million credit for the gift cards it gave out years earlier.

Sept. 12, 2024: Canada Bread files new documents in Ontario court as part of the class action, claiming Maple Leaf used it as a “shield” to avoid liability in the alleged scheme. Maple Leaf was a majority shareholder of Canada Bread until 2014, and the company claims it’s liable for any price-fixing activity. Maple Leaf refutes the claims.

This report by The Canadian Press was first published Sept. 19, 2024.

Companies in this story: (TSX:L, TSX:MFI, TSX:MRU, TSX:EMP.A, TSX:WN)

The Canadian Press. All rights reserved.

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Economy

S&P/TSX composite up more than 250 points, U.S. stock markets also higher

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TORONTO – Canada’s main stock index was up more than 250 points in late-morning trading, led by strength in the base metal and technology sectors, while U.S. stock markets also charged higher.

The S&P/TSX composite index was up 254.62 points at 23,847.22.

In New York, the Dow Jones industrial average was up 432.77 points at 41,935.87. The S&P 500 index was up 96.38 points at 5,714.64, while the Nasdaq composite was up 486.12 points at 18,059.42.

The Canadian dollar traded for 73.68 cents US compared with 73.58 cents US on Thursday.

The November crude oil contract was up 89 cents at US$70.77 per barrel and the October natural gas contract was down a penny at US2.27 per mmBTU.

The December gold contract was up US$9.40 at US$2,608.00 an ounce and the December copper contract was up four cents at US$4.33 a pound.

This report by The Canadian Press was first published Sept. 19, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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Construction wraps on indoor supervised site for people who inhale drugs in Vancouver

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VANCOUVER – Supervised injection sites are saving the lives of drug users everyday, but the same support is not being offered to people who inhale illicit drugs, the head of the BC Centre for Excellence in HIV/AIDS says.

Dr. Julio Montaner said the construction of Vancouver’s first indoor supervised site for people who inhale drugs comes as the percentage of people who die from smoking drugs continues to climb.

The location in the Downtown Eastside at the Hope to Health Research and Innovation Centre was unveiled Wednesday after construction was complete, and Montaner said people could start using the specialized rooms in a matter of weeks after final approvals from the city and federal government.

“If we don’t create mechanisms for these individuals to be able to use safely and engage with the medical system, and generate points of entry into the medical system, we will never be able to solve the problem,” he said.

“Now, I’m not here to tell you that we will fix it tomorrow, but denying it or ignoring it, or throw it under the bus, or under the carpet is no way to fix it, so we need to take proactive action.”

Nearly two-thirds of overdose deaths in British Columbia in 2023 came after smoking illicit drugs, yet only 40 per cent of supervised consumption sites in the province offer a safe place to smoke, often outdoors, in a tent.

The centre has been running a supervised injection site for years which sees more than a thousand people monthly and last month resuscitated five people who were overdosing.

The new facilities offer indoor, individual, negative-pressure rooms that allow fresh air to circulate and can clear out smoke in 30 to 60 seconds while users are monitored by trained nurses.

Advocates calling for more supervised inhalation sites have previously said the rules for setting up sites are overly complicated at a time when the province is facing an overdose crisis.

More than 15,000 people have died of overdoses since the public health emergency was declared in B.C. in April 2016.

Kate Salters, a senior researcher at the centre, said they worked with mechanical and chemical engineers to make sure the site is up to code and abidies by the highest standard of occupational health and safety.

“This is just another tool in our tool box to make sure that we’re offering life-saving services to those who are using drugs,” she said.

Montaner acknowledged the process to get the site up and running took “an inordinate amount of time,” but said the centre worked hard to follow all regulations.

“We feel that doing this right, with appropriate scientific background, in a medically supervised environment, etc, etc, allows us to derive the data that ultimately will be sufficiently convincing for not just our leaders, but also the leaders across the country and across the world, to embrace the strategies that we are trying to develop.” he said.

Montaner said building the facility was possible thanks to a single $4-million donation from a longtime supporter.

Construction finished with less than a week before the launch of the next provincial election campaign and within a year of the next federal election.

Montaner said he is concerned about “some of the things that have been said publicly by some of the political leaders in the province and in the country.”

“We want to bring awareness to the people that this is a serious undertaking. This is a very massive investment, and we need to protect it for the benefit of people who are unfortunately drug dependent.” he said.

This report by The Canadian Press was first published Sept. 18, 2024.

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