Canada – Page 12 – a sibilant intake of breath

Health and climate change

I was surprised just now to see that I don’t think I have a general thread on climate change and human health.

I’d say there are at least two big relevant dimensions to it.

First, because fossil fuel use causes so many bad health impacts, phasing out fossil fuels brings major co-benefits in terms of avoiding disease.

Second — whereas people seem to find environmental problems generally abstract and of low salience — people seem to have a much more consistent willingness to prioritize health related items. Thus, emphasizing the health impacts of climate change may help to motivate those presently unmoved or hostile to climate action.

There are certainly other important links, including how climate change will alter the distribution of mosquito-borne and other diseases and of course the intersectional ways in which health connects with public policy, economic justice, race, and global equity.

I did for a while host a Canadian government report on human health and climate change, which the Harper government decided to make available to the public only through the mail on a CD.

Health was also an important part of the case we made for divestment at U of T (PDF page 50 / printed page 44-7).

Waterloo commits to divestment

The University of Waterloo has joined the set of Canadian schools committing to fossil fuel divestment, specifically with pledges for a “50% reduction in carbon emissions by 2030” and “no material positions in fossil fuel exploration and extraction companies by 2025.”

Cindy Forbes, chair of Waterloo’s Board of Governors, specifically cited the financial case for divestment and argued that it is compatible with fiduciary duty:

To protect our investments, we’re making the decision that we will reduce our exposure to carbon. In doing so we are protecting our primary fiduciary duty to maximise pension fund and endowment returns using measurable science-based targets.

While it contradicts the justice-based framing preferred by most climate activists, purely bottom-line driven divestment arguably has greater potential to spread through the financial system, since the system’s norms heavily emphasize an obligation to reduce risk and maintain profits, whereas commitments to justice and equity are at best controversial.

CBC on the war against the fossil fuel industry

The CBC has two new podcast episodes related to my research. Front Burner has an episode on the movement to divest from the bitumen sands, which tracks the movement’s progression from church groups to universities to major banks and insurers. It notes that only half as many insurers are willing to cover the industry as before the divestment movement began in 2011/12. The second describes Supran and Oreskes’ new analysis of how ExxonMobil has worked to delay climate action and mislead the public, notably by emphasizing consumer responsibility (like the idea of carbon footprints) to try to avoid regulation.

Greyhound shutting down in Canada

After shutting down everywhere in Canada except Ontario and Quebec in 2018, Greyhound is now shutting down in Canada completely, aside from some routes across the border by the American company (Toronto to Buffalo and NYC; Montreal to Boston and NYC; Vancouver to Seattle).

When the government is so keen to help out those who drive or fly, I can’t understand why they are willing to let intercity bus services come to an end. Particularly given the safety concerns about hitchhiking or traveling informally in remote areas, I think it would make sense for the government to take over intercity bus services as a nationalized entity if there is no commercial operator willing to do it. With passenger train services as slow, expensive, and infrequent as they are in Canada, there ought to be an option for people unable to afford flying or unwilling to use such an emissions-intensive form of transport.

China emitting over 14 gigatonnes of CO₂ equivalent

In a development that illustrates the global dynamics of climate change China’s emissions now exceed those of the entire developed world put together.

Since at least the 1990s the basic nature of a global deal to control climate change has been clear. States like Canada with the highest historical and per capita emissions need to cut their fossil fuel use dramatically. At the same time, rapidly developing countries need to choose a lower carbon development path than the states that preceded them.

Canada is massively reneging on this deal. We have never hit our climate targets and our leaders continue to act as though continued fossil fuel development can somehow be compatible with climatic stability. We also treat the emissions from the fossil fuels we produce as someone else’s problem, just as we treat the emissions that go into our imports (some of those Chinese emissions are making stuff for the benefit of Canadians, and people in all rich countries).

Persisting with the status quo is a suicide pact, yet states and citizens have not yet displayed the wisdom of recognizing and acting upon that. With so little time left to change course and avert the worst impacts of climate change we cannot keep accepting governments that abstractly promise that emissions will fall in the far future while working in practice largely to protect business as usual.

Will China invade Taiwan?

This week’s issue of The Economist has Taiwan on the cover and describes it as the “most dangerous place on Earth”.

It is widely reported that a central purpose behind China’s military buildup and particularly the acquisition of naval and amphibious warfare capabilities is the country’s ambition to conquer its democratic neighbour. The implications thereof could be profound, including in terms of China and Taiwan’s domestic politics, Taiwan’s crucial global role as a microprocessor manufacturer, and the confidence of America’s regional allies in America’s security guarantees. If their confidence is sapped by a Chinese takeover, increased regional militarization and perhaps nuclear proliferation are plausible.

China’s conduct toward Taiwan may also be illustrative of its long term geopolitical role as it continues to rise in affluence and military strength, potentially going beyond maintaining an oppressive, nationalistic, and militarist system at home into the actual domination or conquest of foreign territory (though China’s government asserts that Taiwan has been part of China all along).

The question of China and Taiwan also influences domestic national security policy in countries including China. Based on recent decades of use, the likely role for new military platforms like the ships being built for the navy and next-generation fighter jets long under contemplation would be a combination of continental defence under NORAD (arguably with no nation states as plausible enemies in this sense) and expeditionary use in multilateral coalitions for peacekeeping or (as in Afghanistan to begin with) warfighting. If China is developing into a threat that western countries will need to meet with military force, however, it will be indispensable to have advanced weapons and forces capable in their use ready before the conflict begins.

US to withdraw from Afghanistan

The Biden administration has announced that most US forces will withdraw from Afghanistan by September 11th.

What have we learned since 2001 and what have the consequences of the war been? Could Al Qaeda have been expelled or destroyed without the invasion? How will the US / NATO / Canadian intervention affect Afghanistan’s long-term future?

COVID’s second spring

My winter thread is now behind the times, so this will be a new place to track COVID stories of interest and importance.

One I saw today is not encouraging: More young Canadians getting severe COVID-19, being hospitalized: experts

According to new modelling from the Public Health Agency of Canada, Canada is on track to see a “strong resurgence” of COVID-19 cases across the country if these variants continue to spread and become more commonplace, and if public health measures remain at current levels.

The new long-range projections, released on Friday, show that the highest incidences of COVID-19 are currently being experienced in British Columbia, Saskatchewan, Manitoba, and parts of Ontario, while the overall incidence rates are highest among young adults aged 20 to 39 and have declined among older Canadians.

Let’s all do what we can to combat complacency and sustain the public determination to keep acting protectively toward one another.

UBC’s financial analysis of divestment

During the U of T campaign, a validating source like this memo from the University of British Columbia’s Vice-President Finance and Operations would have been amazing for responding to the argument that divestment is financially irresponsible:

Results of Mantle’s analysis (full report attached as Appendix A) indicate that the link between climate change and the financial viability of investment assets is clear. Carbon intensive companies will be exposed to climate related financial risk as the world commits to reduce carbon emissions through regulatory, legal, market or technology shifts away from fossil fuels. Rapidly evolving trends – such as greater corporate disclosure of climate risk, commitment to a “Paris Aligned” future, the acceptance of a “carbon budget” – are greatly increasing the risk in holding shares of companies whose value is derived from the continued growth and expansion of global fossil fuel use.

Seeing the arguments about the carbon bubble from Bill McKibben’s movement-instigating article and our own divestment brief affirmed by university executives and their consultants demonstrates the degree to which the argument against continued investment in fossil fuels is sound, as well as how it has diffused beyond activists into the thinking of decision makers.

Tonight’s thesis reading will be more than unusually encouraging, between this and today’s Supreme Court of Canada ruling on the carbon tax.

Canada and Toronto’s housing markets

Perhaps the hardest thing about doing a PhD in Toronto is finding decent housing and paying for it with the kind of income the university’s funding package and TA work provides. Since the 2008 financial crisis, governments around the world have undertaken exceptional monetary and fiscal stimulus to try to sustain employment and economic growth. Those ultra-low interest rates, however, have affected asset prices in at least two ways. First, since they cannot even earn the rate of inflation from savings accounts, people have been prompted to invest in all manner of speculative assets, from frothy tech stocks to bitcoin to the housing bubbles inflating around the world. At the same time, low interest rates have facilitated massive borrowing for house purchases, also helping to drive up the level of house prices.

Those dynamics have several unwanted current and future impacts. For one thing, I worry that the sense of affluence it fosters among house owners is contributing to an erosion of empathy. It is also worsening the intergenerational inequalities between people who bought houses decades ago and have experienced a huge jump in wealth as a result and the younger people who in past generations would have been entering the housing market now. When interest rates do finally need to rise (once inflation rises above target levels) many home owners risk being in the unfortunate position that the 2008 crisis caused for so many: being ‘underwater’ with a mortgage now larger than the market price of their home.

I think it would be prudent for governments to pay more attention to asset price levels alongside the inflation and employment rates when setting policy. Their efforts to juice their way out of the last crisis seem to be setting up the next one. It would also be desirable for countries to start requiring comprehensive disclosure of wealth as a prelude to wealth taxation.

House prices in Canada