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Investment of $550-million will build 20 new schools, expand others: province – durhamradionews.com

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Over the next year, 20 new schools will be built across Ontario and eight existing schools will see state-of-the-art permanent additions.

That’s according to the provincial government, who are investing $550-million in the project, which is expected to add nearly 16,000 new learning spaces and 870 new licensed child care spaces over the 2020-2021 school year.

“Our government is doing everything possible to ensure our students can achieve lifelong success,” said Premier Doug Ford. “That’s why we made a significant commitment to fix our schools and ensure students and staff have access to the best classrooms, with features like modern ventilation systems and high-speed Internet access. During construction, these projects will create hundreds of jobs and contribute significantly to our economic recovery.”

Some schools will also be getting upgrades to enhance their facilities and add more student spaces.

“This government firmly believes that all children deserve to learn in state-of-the-art, modern, technologically connected and accessible schools,” said Education Minister Stephen Lecce. “We will continue to take action to ensure students are safe today and well into the future by approving more new school buildings and permanent additions, and increasing access to child care for working parents.”

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City makes investment in water and waste as part of $2.3B capital plan – Winnipeg Sun

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Chairperson of the City’s Water and Waste, Riverbank Management and the Environment committee, Coun. Brian Mayes (St. Vital) said in a statement on Tuesday he wants to see a reduction in sewage spills into rivers “with a $180 million commitment over the next six years.”

In a statement, the city said its capital investment plan will also invest $117 million in water main renewals, $117 million in sewer main revitalization over the next six years, and $39 million towards residential water meter renewal.

Environmental investments, the city explained, will contribute to the protection of Lake Winnipeg through upgrades to the North End Sewage Treatment Plant (NESTP), which they say are vital to future development in Winnipeg.

In September, council voted unanimously to endorse a request from the province to transfer $321.24 million of federal funds from the Transit Stream to the Green Infrastructure Stream under the Investing in Canada Infrastructure Program (ICIP) in support of upgrades to the NESTP.

The city said its decision hinged on the provincial government providing its share of $267.7 million towards the upgrade.

jsnell@postmedia.com

Twitter @JamesWestgateSn

Water and Waste 2021 budget report facts:

Number of complaints about raw sewer backups  2017: 687   2019: 1,000

Number of complaints about water taste and odour  2017: 205   2019: 133

Number of water quality tests conducted   2017: 66,734   2019: 63,952

Kilometers of sewer inspected and cleaned   2017: 124   2019: 157

Number of industrial waste tests conducted   2017: 41,522  2019: 64,361

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Investing in a sustainable future – Kaleido introduces its Sustainable Investment Policy – Canada NewsWire

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QUEBEC CITY, Dec. 1, 2020 /CNW Telbec/ – Kaleido, the pioneer in education savings, is introducing a new responsible and sustainable investment strategy this December with its new Sustainable Investment Policy. One financial action at a time, Kaleido is working to build a brighter future.

“Sustainable investment means more than just investing in environmentally responsible firms,” says Isabelle Grenier, President and CEO of Kaleido. “We’re proud to say that 100% of our asset managers consider environmental, social, and governance factors—ESG criteria—when choosing what securities to invest in. We have an enormous responsibility as asset managers because every choice counts!”

ESG investing prioritizes organizations that create lasting value while making positive contributions on important social and environmental issues. It’s a philosophy that goes hand-in-hand with Kaleido’s work in education savings. After all, our goal is to build value over the years so our families can use their investments for their children’s postsecondary studies.

Kaleido also advocates for best practices in sustainable investment along with other national leaders in the field as an associate member of Canada’s Responsible Investment Association (RIA).

“We are committed to staying ahead of the curve. Our portfolio managers are already taking positions in favor of workplace safety and greenhouse gas reduction, for example. Our Sustainable Investment Policy is one more step towards our goal to create a brighter future for our youth,” says Grenier.

As always, Kaleido is driven by the conviction that all children can achieve their full potential when given the means. To give future generations the same chance, it is both logical and vital to invest in companies and initiatives that are working toward that goal.

 About Kaleido

Kaleido helps families in Quebec and New Brunswick give their children a leg up on future success. Every day more than 100 employees and as many representatives create brighter opportunities for youth through education savings, parent support, and insurance solutions.

Kaleido has been a pioneer in education savings since 1964. Over the years the organization has issued $993 million in educational assistance payments and savings refunds to benefit more than 227,000 young people. Kaleido has $1.7 billion in assets under management.

To learn more, visit kaleido.ca/en and follow us on social media.

SOURCE Kaleido Growth Inc.

For further information: Patrick Pedneault, Media Relations, [email protected], 418-651-8977, ext. 2312

Related Links

https://www.kaleido.ca/

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BMO to exit oil and gas investment banking in the US – BNN

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Bank of Montreal is winding down its U.S. oil and gas investment banking business and will focus on assets in Canada going forward, becoming the latest financial institution to cut ties with America’s beleaguered shale industry.

BMO said it has made “the financial decision for an orderly wind-down of our non-Canadian investment and corporate banking energy business.” Going forward, the company said by email, its capital markets energy business will be focused on Canada.

The company is eliminating about 50 positions in its investment banking group as part of the exit that was announced to staff on Monday, according to a person with direct knowledge of the situation who asked not to be identified because the information isn’t public. A handful of corporate bankers will manage BMO’s U.S. oil and gas loan book, the person said.

BMO is the latest bank to halt investment banking tied to U.S. oil and gas explorers, which even before the pandemic were facing pressure after years of generating meager returns. The move didn’t appear to be related to ESG concerns plaguing fossil fuel companies. America’s shale industry has been swept up in a wave of consolidation in recent months as the pandemic slashes oil demand, drags down prices and forces low-premium mergers. That follows years of lackadaisical M&A activity in the oil patch.

On Tuesday, BMO reported gross impaired loans in its U.S. oil and gas portfolio of $457 million at the end of its fiscal fourth quarter, compared with only $93 million for the industry in Canada and other countries.

BMO’s U.S. oil and gas loan book was about  $7 billion as of July 31, making up half of its overall oil and gas loans, according to a company presentation.

–With assistance from Derek Decloet.

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