Category: Canada

Anything related to Canada or Canadians

Divestment and “The Toronto Principle”

An article in The Harvard Crimson focused on the recent report of the president’s divestment committee at U of T:

Last December, a committee at the University of Toronto released a report on the issue of divestment, drawing a clear line by aligning itself with the needs of the Paris agreement. It recommended that the university not finance companies whose “actions blatantly disregard the international effort to limit the rise in average global temperatures to not more than one and a half degrees Celsius above pre-industrial averages by 2050…These are fossil fuels companies whose actions are irreconcilable with achieving internationally agreed goals.”

Hopefully, this principle will be re-affirmed when President Gertler makes the final decision. We expect that at the end of March.

PhD proposal progress

I have come across a lot of exciting material for my PhD project in the last few weeks. Documents like the papal encyclical Laudato Si raise interesting questions about the connections between the faith community’s involvement in the effort against climate change, anti-capitalism, and the moral contemplation of the environment. For instance, there are interesting parallels between this theological interpretation of biodiversity loss and ‘deep’ ecology in which nature is considered valuable for its own sake and not only for human purposes.

Another encouraging development is the universal enthusiasm for the project. I have discussed it with experts in faith and aboriginal communities, people at Massey College, committee members and potential supervisors, people at parties, environmentalists, journalists, and civil servants. People are sometimes skeptical about whether it will prove logistically feasible to talk to so many people and follow the routes of two phantom pipelines, but nobody has argued that the project is not worth trying.

Once the Community Response to the ad hoc committee on divestment’s report has been assembled, my top priority will be the creation of a major new version of my proposal for circulation to committee members and potential supervisors.

U of T ad hoc committee recommends divestment

The presidential committee at the University of Toronto just recommended divestment!

They lay out criteria for excluding stocks based on their climate change impact and “recommend… that the University of Toronto instruct its investment managers to divest immediately” from such holdings.

They specifically identify ConocoPhillips, ExxonMobil, the Peabody Energy Corporation, Arch Coal Inc., Alpha Natural Resources LLC, Cloud Peak Energy, and the Westmoreland Coal Company for divestment.

Look for more information on this in the hours ahead from UofT350.org and Toronto350.org.

Responses to the Paris Agreement

A bit of what I have seen online so far:

My quick take: there is lots to be disappointed about in this agreement. Targets aren’t legally binding. Indeed, the agreement text seems far too aspirational in many places. I can’t help but feel that an international agreement on trade or defence would include more concrete measures for effective implementation. It’s also objectionable that the agreement seeks to prohibit people harmed by climate change from suing those who are causing it for damages.

Even if fully implemented, this text doesn’t do nearly enough to prevent catastrophic climate change. That being said, having an agreement endorsed by so many parties — and which does include mechanisms for increasing ambition over time — makes me a bit more hopeful that this problem can ultimately be resolved.

Alberta’s 2015 climate plan

There’s a mass of news coverage and punditry about Alberta’s newly-announced pre-Paris climate change plan:

To me, this seems like a useful step forward: an acknowledgement that Alberta must act to curb climate pollution and that fossil fuel expansion cannot continue forever.

That said, this is all happening late. We should have stopped expansion decades ago and by this point jurisdictions like Canada with high GDP per capita and very high GHG pollution per capita should be on the downslope of cutting back aggressively.