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Canada falling $60-billion short annually on investments needed to hit climate change targets: report – Financial Post

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Investors remain wary of higher risks for returns in long-term transformative projects to reduce emissions, RBC report says

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Canada must make it more profitable for investors to back transition to low emissions in large polluting industries such as oil and gas if the country is ever going to hit its greenhouse gas targets, according to a new report.

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Investors remain wary of higher risks for returns in long-term transformative projects to reduce emissions, which could have a demonstrable impact on achieving climate change-thwarting goals, than in renewable energy where three quarters of the country’s green investment dollars fund projects, the Royal Bank of Canada says in the report.

There needs to be about $70 billion a year spent on green technologies in Canada to meet carbon neutral targets by mid-century, but only about $10 billion is being invested annually, RBC economist Colin Guldimann said in the report released Monday.

“Large-scale projects that could create meaningful change, for instance in heavy-emitting sectors, are often costly, come with higher investment risk, and don’t provide significant near-term financial returns,” Guldimann says.

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“With a relatively large share of industrial emissions, including from the oilpatch, Canada faces a challenge in ensuring that sustainable finance reaches all parts of its economy.”

As a season of deadly wildfires and floods around the planet shows the urgent need to tackle greenhouse gases, there is more investment than ever in funding to fight climate change. But too often it chases quick returns on investment (ROI) in renewable energy instead of broad structural changes to reduce emissions in industries such as oil and gas, and cement.

An oil pumpjack working in Alberta.
An oil pumpjack working in Alberta. Photo by James Maclennan/Sun Media/Postmedia News files

Part of the problem is that many industrial processes rely on fossil fuels to produce the very high heat they require, Guldimann says. Substitutions may not be effective nor generate sufficient returns for investors.

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Part of the solution lies in boosting sustainability-linked finance allowing businesses in those sectors to pay lower interest or utility rates if they cut emissions below targets, Guldimann says. Contracts guaranteeing carbon prices or government carbon price subsidies would also draw investors to a type of funding that has so far been limited, he says.

Tom Rand, a co-founder and managing partner of Toronto-based ArcTern Ventures, says carbon prices are child’s play. Rand says what’s needed is radical capitalism in the form of a massive investment intervention to save the planet from the breakdown in civic infrastructure — millions of climate refugees triggering far-right politics, for example — that he says international security experts forecast will accompany climate change.

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“There are trillions and trillions of dollars just sitting in money market accounts doing nothing, earning nothing,” Rand says in a television interview about his book The Case for Climate Capitalism. “So if we put the right signals in place, the private sector will shovel that money into solving this problem because they will be motivated by making money on those trillions of dollars.

Canada will need to attract investors with greater risk appetite … to help fund this slice of the transition

Colin Guldimann, RBC economist

“The resources are there, the technology is there, they have big engineering companies capable of executing on this stuff. We just need to have a policy framework that puts rules into place that enables that money to flow in that direction, and lo and behold, we’d all be better off in the long term economically and environmentally.”

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Guldimann says there’s already an abundance of capital that companies have marked for engineering. It just needs the policy framework, like Rand mentions, for an increased ROI to boost investor interest.

Canadian investment in engineering structures and industrial equipment averages nearly $120 billion annually while corporate after-tax profits add another $130 billion, he says. The funding should be funnelled through sustainable finance models to increase ROI, he says.

“Canada will need to attract investors with greater risk appetite, and those willing to wait longer to get their initial investment back, to help fund this slice of the transition,” the economist says. “It should ensure that rules for green and sustainable finance allow for these projects to be labelled as such, so emissions-intensive sectors can access the capital they need to transition.”

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Higher costs due in renewable energy could push some investors in that industry to longer-term projects. Rising steel, copper, aluminium and fibre prices plus a four-fold increase in logistics costs have increased wind turbine prices over the last six months, and they’re expected to rise 10 per cent in the next 12 to 18 months, according to consultant Wood Mackenzie.

Rising steel, copper, aluminium and fibre prices plus a four-fold increase in logistics costs have increased wind turbine prices over the last six months.
Rising steel, copper, aluminium and fibre prices plus a four-fold increase in logistics costs have increased wind turbine prices over the last six months. Photo by Maxim Shemetov/Reuters files

There could also be a push by some Canadian pension funds to divest from some fossil fuel activities, or perhaps redirect funding to industry emission transformations, after a report this month criticized their investment portfolios.

The Ottawa-based Canadian Centre for Policy Alternatives found the Canada Pension Plan, while calling itself a climate action leader, had actually increased shares in fossil fuel companies by 7.7 per cent between 2016 and 2020. The centre said it couldn’t determine how the investments had been allocated, but said Canada’s pension funds had declared the need for a quick transition to a low-carbon economy.

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The centre’s report followed a United Nations report this month saying the planet is on an “irreversible” path of climate change impacts including lethal heatwaves and extreme hurricanes. UN Secretary General António Guterres said the report “must sound a death knell for coal and fossil fuels, before they destroy our planet.”

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Alberta Premier Jason Kenney said an abrupt transition is out of the question for Canadians because they need fossil fuels to survive the northern climate.

“It is a utopian notion that we can suddenly end the use of hydrocarbon based energy,” he said. “The challenge is to shrink carbon and CO2 output, and Alberta is increasingly a world leader in that respect.”

Kenney cited provincial funding of carbon capture and storage, and a proposed Edmonton plant to make hydrogen fuel, as efforts to control emissions.

Financial Post

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FXM VENTURE – Offers News Investment Platform – GlobeNewswire

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Glasgow, Scotland, Aug. 13, 2022 (GLOBE NEWSWIRE) — With the intention of being one of the top investment platforms for investors of all stripes, FXM Venture was established in July of 2020. FXM has been extending its impact to adjacent nations thanks to the vision and leadership of its core members.

BACKGROUND OF FXM VENTURE

Ten significant individuals were involved in the founding and early development of FXM Venture, with the goal of establishing this investment fund’s brand on a global scale. And today, 100 members work in 6 transnational branches and continue their tradition. In addition to being directed and run by professionals with decades of expertise in a variety of sectors, including finance, investing, marketing, and technology, FMX is also run by vital departments like: customer service personnel, technical staff,…

Additionally, in just two years (starting in July 2020), FMX has called for a total investment of 8 million USD.

HOW DOES FXM VENTURE WORK?

For both long- and short-term traders, funding rates are regular payments. Investors are free to select a transaction based on their financial situation and liquidity. Users can, in particular, withdraw money at any moment and get interest.

At FXM Venture, we have experienced traders in both Forex and Cryptocurrencies allowing us to build a stable financial foundation to increase the returns of our investors.

FXM also has AI technology in trading approaches to Real-time forecasts of hundreds of scenarios, execution strategies, and commercial alliances, in addition to our research, market neutral algorithms by monitoring market movements and building trading algorithms. Our primary goal is to establish a win-win relationship between the customer and the firm, in which FXM Venture develops specific investment plans and strategies, while investors can then choose suitable investment packages, together with FXM consider and select specific investment plans.

ORIENTATIONS AND VISIONS

By expanding its operations and financial system in 2022, FXM aims to become one of the best legitimate funds in the world. To that end, 4 additional branches will be opened, and recruiting efforts will be stepped up to reach our target of 200 members.

In terms of financing, FXM VENTURE’s aim is to raise our fund up to $15 million.. Aside from that, FXM equips you with the resources you need to be completely confident in your investment decisions. Furthermore, you may invest with FXM with complete confidence because here are what make FXM different:

  • TRANSPARENT TRANSACTIONS
  • MULTI-ASSET PLATFORM
  • PROFESSIONAL TRADER TEAM
  • AI TECHNOLOGY
  • SECURED DEPOSITS AND WITHDRAWALS
  • 24/7 CUSTOMER SUPPORT SERVICE
  • LIVE TRADING

FXM does not intend to stop at satisfying almost 30,000 customers who have been using services and investing in FXM (with a customer satisfaction rate of 78% and a customer return rate of 85%), FXM is as complete as possible with the goal of increasing the number of clients to 50,000 in the next quarter with a satisfaction level of over 90%.

PACKAGES AND REFERRAL

Visit the website for more information

And also, Remember to refer friends to be rewarded with $25 for every friend who joins and registers at least one package — with no cap on the number of people you can refer, and gain matching income on their profits: F1 (10%), F2 (5%), F3 (3%), F4 (2%).

Media details:

Company Name: FXM Venture

Email:contact@fxmventure.com

City: Glasgow

Country: Scotland

Website: https://fxmventure.com

Telegram group: https://t.me/fxmventure_official_chat

Telegram channel: https://t.me/fxmventure_official_channel

Twitter: https://twitter.com/FxmVenture

There is no offer to sell, no solicitation of an offer to buy, nor a recommendation of any securities or any other products or services. Furthermore, nothing in this PR should be construed as a recommendation to buy, sell or hold any investment or security, or to engage in any investment strategy or transaction. It is your responsibility to determine whether any investment, investment strategy, security or related transaction is suitable for you based on your investment objectives, financial situation and risk tolerance. Please consult your business advisor, attorney or tax advisor regarding your specific business, legal or tax situation.

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PepsiCo Makes $550 Million Celsius Investment As Hip Hop Mogul Sues For His Shares – Forbes

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PepsiCo
PEP
has its sights on gaining a bigger share of the energy drink with a $550 million investment in Celsius Holdings. The energy drink maker is also at the center of a lawsuit between Russell Simmons and his ex-wife Kimora Lee Simmons along with her husband Tim Leissner, as he tries to retrieve his shares in Celsius back from them. Allegedly Kimora Lee and Leissner transferred and were using his shares of Celsius as collateral to pay a bond in connection with these criminal charges. Leissner already pleaded guilty, and agreed to forfeit $43.7 million for his role in the Malaysia 1MDB scandal that cost Goldman more than $3 billion. Simmons alleges that his shares of Celsius are being used as collateral to pay a bond in connection with these criminal charges.

The Breakdown You Need To Know:

Celsius recorded a first-quarter domestic revenue increase of 217% to $123.5 million and the long-term distribution deal gives Pepsi a minority stake of about 8.5%. The brand, which doesn’t use artificial preservatives or sugar, adds to PepsiCo’s energy drink portfolio, which already includes Rockstar as well as Mountain Dew drinks Amp, Game Fuel, and Kickstart. CultureBanx reported that with these types of returns it’s easy to see why Simmons wants his shares back from the couple.

Quick Recap on how these three people ended up in this situation. Goldman Sachs
GS
last year agreed to pay the Malaysian government $3.1 billion, to settle claims in the 1Malaysia Development Berhad (1MDB) fund. One of the main people who got the bank involved in this scandal was Kimora Lee’s Simmons husband Tim Leissner.

The bank swiftly parted ways with him after his shady dealings with Jho Low came to light. In November 2018, when Leissner agreed to pay $43.7 million toward victim compensation, it was in order to avoid jail time.

In his claim, Simmons says Kimora and Leissner “knew full well that Leissner would need tens of millions of dollars to avoid jail time, stay out on bail, and forfeit monies for victim compensation.” Simmons claims they used their Celsius shares as collateral for Leissner’s bail, and he wants his shares returned.

Now Russell wants no financial part in keeping Leissner out of jail. In a letter sent to his ex-wife Kimora Lee on May 5, 2021, he was pleading with her to do the right thing and avoid a lawsuit. He wrote that “I am shocked and saddened to see how your side has behaved in response to my repeated attempts to get an agreement from you to rightfully and legally reaffirm my 50% of the Celsius shares..which have been locked up with the government after being used for your husband’s bail money.”

What’s Next:

A representative for Kimora Lee said “Kimora and her children are shocked by the extortive harassment coming from her ex-husband, Russell Simmons, who has decided to sue her for shares and dividends of Celsius stock in which Kimora and Tim Leissner invested millions of dollars.” At this point Russell is asking a judge for damages against Kimora and Leissner and believes he should be awarded restitution for interest and equal value for the wrongfully obtained shares.

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Saskatchewan Leads Provinces In Building Construction Investment | News and Media – Government of Saskatchewan

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Released on August 12, 2022

Saskatchewan first among the provinces in year-over-year growth

Today, Statistics Canada released June 2022 Investment in Building Construction numbers, which showed Saskatchewan with a 63.0 per cent increase (seasonally adjusted) compared to June 2021, ranking first among the provinces in terms of percentage change.

Saskatchewan also had strong month-to-month growth for building construction investment with a 17.6 per cent increase (seasonally adjusted) between May 2022 and June 2022, second among the provinces. The value of building construction investment in June 2022 was $464 million, the highest monthly investment in the province since August 2013.

Investment in residential building construction also saw strong month-to-month growth with an increase of 24.0 per cent.

“Saskatchewan’s economy is moving full steam ahead as we advance our Government’s strategy to increase our exports and attract investment into the province,” Trade and Export Development Minister Jeremy Harrison said. “Saskatchewan is a global leader in the sustainable production of the food, fuel and fertilizer that the world needs, a reality that will lead to more jobs and opportunities in our province for years to come.”

The latest Statistics Canada Labour Force Survey showed there were 581,600 people employed in July 2022 – an increase of 24,400 jobs (+4.4 per cent) compared to July 2021, the third highest percentage increase among the provinces. The seasonally adjusted unemployment rate of 4.0 per cent remained the second lowest among the provinces, a decrease from 7.1 per cent in July 2021 and well below the national average of 4.9 per cent.

Saskatchewan has ranked highly in a number of other key economic indicators in recent months, including June 2022 merchandise exports, which had the second highest year-over-year growth among the provinces at 57.3 per cent and June 2022 building permits, which had the second highest month-to-month growth among the provinces at 15.8 per cent and the third highest year-over-year growth at 27.4 per cent. June 2022 urban housing starts had the second highest year-over-year growth at 87.0 per cent, compared to the national increase of 0.2 per cent (unadjusted).

-30-

For more information, contact:

Jill Stroeder
Trade and Export Development
Phone: 306-787-6315
Email: Jill.stroeder@gov.sk.ca

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