The clock is now ticking for businesses when it comes to finding alternatives to single-use plastics.
On Wednesday, the federal government announced that it is moving to fulfill a promise to ban single-use plastics by the end of 2021.
For many Kingston-area businesses, the move comes as no shock as they have adjusted over the last several years to decrease plastic use.
“Paper bags are something we’ve moved to for almost two years. Same with paper straws,” said Richard Wicklam, the manager of the Tir Nan Og Irish Pub.
Currently, the Tir Nan Og offers plastic utensils on request, but when the ban comes into effect in 2021, this will no longer be an option.
The list of banned plastics includes grocery bags, straws, stir sticks, six-pack rings, cutlery and food containers.
Businesses and restaurants in the downtown core are weighing the options for switching from single-use plastics, and many find the alternatives more expensive.
It’s an issue that may fall to the consumer, according to Queen’s University environmental studies professor, Dr. Myra Hird.
“Who is going to bear the brunt of the cost of this? Who’s it going to be? Is all of this going to be passed down to consumers?” said Hird via Zoom.
“Or does it mean that we’re just going to be paying more and more and more for the things that … we’re buying?”
Hird suggests the government should put structures in place that the manufacturers bear the cost, but says changes like these usually hit the consumer’s wallet.
“Studies over and over again show that consumer’s attitude towards biodegradable recycling is very strong, very positive,” Hird said.
“But the bottom line is that for many Canadians and especially now during the pandemic in our economic situation, people just cannot afford to buy higher-priced products.”
Although Hird says the plastic ban is crucial to protect the environment, she has concerns with the production of the alternative.
“What’s going to replace the single-use items? We need to really make sure that it’s not going to be worse for the environment, whatever we replace it with,” said Hird.
On Wednesday, Canadian Environment Minister Jonathan Wilkinson said Canadians increased the number of plastics they used during the pandemic, which was among the considerations made by the government in preparing the list of six items to be banned and that many of the items targeted by the ban have readily available affordable alternatives.
“The problem is getting worse. Action is needed to keep plastic out of our environment,” said Wilkinson.
According to Wilkinson, Canadians only recycle roughly nine per cent of the plastics used in the country each year, and while plastics can be useful, those being used must be recyclable.
In June, Prime Minister Justin Trudeau said the government would look at the policies implemented earlier in the year by the European Union as a model.
© 2020 Global News, a division of Corus Entertainment Inc.
Ontario premier wants to take 'surgical approach' to next group of shutdowns in hot spots – CTV Toronto
Ontario Premier Doug Ford said he wants to take a “surgical approach” to shutdowns in the province’s COVID-19 hot spots when deciding if regions need to remain in a modified Stage 2.
“We need to take a surgical approach,” Ford said, while making an announcement in Barrie, Ont. on Thursday. “I’ve always said this, some regions are very large geographical areas.”
Ford wouldn’t say whether Toronto, Peel Region, Ottawa or York Region would be moved back into Stage 3 of the province’s reopening plan. All four regions were placed into a modified Stage 2 for 28 days because of their rising infection rate.
The modified Stage 2 forces indoor dining to close, as well as movie theatres and gyms.
The 28-day period expires for Toronto, Peel Region and Ottawa on Nov. 7, while York Region is a week later.
Ford used Peel Region as an example of why he thinks a surgical approach needs to be taken, saying while Mississauga and Brampton have seen an increase in COVID-19 cases, Caledon has not seen numbers spike at the same rates.
“Caledon, they’re complaining because the numbers are escalating in other regions,” Ford said.
Ford said he’s “working with all the mayors and all the different regions” to decide on what restrictions will be lifted or kept in place when the 28-day period ends.
“We’re working on coming up with a safe plan with collaboration with all the local mayors and local health teams and then we’ll make a decision before this 28 days runs out.”
“The good news is we are seeing a little bit of a decline,” Ford said about COVID-19 cases in Ontario. “But make no mistake about it … do not let your guard down. It happened before and it just spiked up.”
Ford’s comment on the decline in cases comes as Ontario’s seven-day rolling average hit 899, which is a record high since the pandemic began.
Ontario’s four COVID-19 hot spots continue to have the highest number of COVID-19 infections.
Of the new cases reported on Thursday, 420 were in Toronto, 169 were in Peel Region, 95 were in York Region and 58 were in Ottawa.
Province launches ‘Ontario Made Consumer Directory’
Meanwhile, the Ontario government announced on Thursday that it has launched a new directory to make it easier for people to shop and support local businesses amid the COVID-19 pandemic.
The Canadian Manufactures and Exporters (CME), with the support of the Ontario government, launched the “Ontario Made Consumer Directory.”
Ford said that promoting Ontario-made products will help support “good-paying jobs” in the future.
People can find made-in-Ontario products on the government’s new website SupportOntarioMade.ca.
“I’m proud to support this new CME campaign to encourage Ontarians to look for the ‘Ontario Made’ label when shopping,” Ford said.
Warning: Don't Save in Your TFSA! Do This Instead – The Motley Fool Canada
Too many Canadians are still saving in their Tax-Free Savings Account (TFSA)! However, the Bank of Canada is planning to keep the benchmark interest rate at close to zero at least until 2023. This means that if you put money in a savings account or guaranteed investment certificate (GIC), you won’t make much.
Instead of saving in your TFSA, you should consider investing in it. Currently, the best three-year GIC rate is offered by EQ Bank and going for 1.15%. The long-term average Canadian stock market returns are 7% — six times what you would make from the GIC.
You can potentially make even greater returns by placing your money in specific stocks. If you like consistent income, you would be interested in Toronto-Dominion Bank (TSX:TD)(NYSE:TD) and TC Energy (TSX:TRP)(NYSE:TRP).
Both are wonderful businesses, but their stocks have sold off recently, making them attractive long-term investments that should outperform market returns over the next few years.
TD stock provides a 5.4% dividend
Because of pandemic disruptions to the economy, higher credit losses are expected at the Canadian banks this year. TD stock has become particularly attractive among the big Canadian banks given its quality and growth potential on an economic rebound, especially with its meaningful exposure to the U.S. retail banking market.
TD stock’s correction of 22% in the last 12 months is the perfect opportunity to buy for an elevated dividend yield of 5.4%. This is 35% more income than its appealing yield of 4% in a normal economy.
Importantly, the stock is undervalued for long-term investment. In a normal year, TD generates revenues of about $38 billion and net income of more than $11 billion. Inevitably, this year, its revenues and earnings are going to be lower.
At about $58.50 per share at writing, the compelling stock can deliver total returns of about 15% per year over the next three to five years. Furthermore, you can expect its dividend to increase during that period.
TC Energy offers a 6.1% dividend
TC Energy is a resilient business that provides essential services in the energy sector. It just reported its third-quarter results today. Management highlighted that the company’s operations, flows, and utilization levels remain in line with historical and seasonal norms.
Year to date, its revenues only dipped 3% and its comparable EBITDA essentially stayed flat against the same period in the prior year. Moreover, its earnings per share actually climbed 15% to $3.55, putting its payout ratio at 68% for the period.
TC Energy’s defensive business performance doesn’t really warrant the stock’s decline of 20% in the last 12 months. It also has a secured capital program of $37 billion from 2020 to 2023 to grow its business. About $5 billion of the projects are expected to complete this year.
At about $52.90 per share at writing, the attractive stock can deliver total returns of about 15% per year over the next three to five years. A dividend increase of 5-7% per year should be no problem for the Canadian Dividend Aristocrat.
The Foolish takeaway
Understandably, Canadians might want to be conservative with their money-management strategies during the pandemic. Investing in blue-chip dividend stocks like TD stock and TC Energy stock is as conservative as it gets in the stock investing world.
Take a closer look at the businesses and consider investing in their undervalued stocks in your TFSA for outsized tax-free income and returns in the long run.
Speaking of attractive stocks to check out…
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Fool contributor Kay Ng owns shares of The Toronto-Dominion Bank and TC Energy.
Shoppers' privacy violated at major Canadian malls: Privacy commissioners – CBC News: The National
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- Shoppers’ privacy violated at major Canadian malls: Privacy commissioners CBC News: The National
- Cadillac Fairview collected millions of images of shoppers at malls across Canada: Privacy watchdog CP24 Toronto’s Breaking News
- Cadillac Fairview secretly collected personal information from 5M shoppers across Canada: privacy commissioners KitchenerToday.com
- Mall real estate company collected 5 million images of shoppers, say privacy watchdogs CBC.ca
- Cadillac Fairview collected 5 million shoppers’ images without consent Yahoo Canada Finance
- View Full coverage on Google News
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