Experts weigh the pros and cons of renewable diesel in the North

CBC
Thu, June 13, 2024

Tidewater Renewables in Prince George, B.C., is 1 of 7 renewable diesel refineries Canada said was either open or under construction in 2023. Experts are weighing in on whether the North should use renewable diesel, after one N.W.T. MLA suggested it could be a 'game-changer' for the territory. (Betsy Trumpener/CBC - image credit)

A Saskatchewan researcher who specializes in fossil fuels and energy transitions says she understands why renewable diesel is an attractive alternative in the North — but she's not sold on the idea that it's the best way to reduce overall emissions.

"I think the total carbon footprint of renewable diesel is a bit unclear," said Emily Eaton, a geography and environmental studies professor at the University of Regina. She wonders if its production has "hidden greenhouse gas emissions" that aren't accounted for.

Made from vegetable oils and fats, renewable diesel is chemically the same as conventional diesel and can be used in any type of existing diesel engine.

Yellowknife North MLA Shauna Morgan suggested last week it could be a "game-changer" for the North, and urged the N.W.T. government to work with the Yukon to find some for a pilot project. She said the cost per tonne of reduced emissions from renewable diesel is two to eight times lower than other renewable projects the territory is working on — like solar and wind.

A market snapshot of Canada's budding renewable diesel industry said as of 2023, there were seven refineries planned or under construction around the country. One of the main drivers of the development, it said, were clean-fuel regulations set in 2020 aimed at reducing emissions.

Canada Energy Regulator published a market snapshot of the the country's renewable diesel industry in 2023. This map, which comes from that snapshot, shows seven refineries that were either open or under construction at the time.

Canada Energy Regulator published a market snapshot of the country's renewable diesel industry in 2023. This map, which comes from that snapshot, shows 7 refineries that were either open or under construction at the time. (Canada Energy Regulator)

But Eaton said renewable diesel is "for the most part" refined in the U.S. and Singapore. Importing the end product, growing the crops to make it, and the refining process all generate emissions too, she said.

Instead, she considers electrification to be the "best practice" for the energy transition in Canada.

Lachlan MacLean, a practicing mechanical engineer and member of the Yellowknife-based social justice non-profit Alternatives North, disagrees. He believes renewable diesel is one of the North's best options for reducing emissions, though he agrees it's crucial to ask questions about where a product comes from and how many emissions might be associated with its entire lifecycle.

And for that, he has an answer.

"You would want to get a certificate of carbon intensity [that] comes from a trusted assessment firm that is going to be looking at these lifecycle … emissions," he said. Carbon intensity is a measure of how carbon dioxide and other greenhouse gasses are associated with an activity.

MacLean said renewable diesel products have a variety of different carbon intensities, and it would be important to pick a product that meets the territory's goals.

No big new infrastructure needed for renewable diesel

MacLean believes the N.W.T. should be focused on renewable diesel because it can be used to address a huge amount of the territory's emissions. Right now, conventional diesel is widely used in the territory as heating oil, transportation fuel or for remote power generation.

Renewable diesel can also reduce overall emissions as soon as the fuel is used — helpful, as the territory inches closer to a 2030 reduction target that remains out of line with the federal government's targets.

A lot of alternative technologies — including electrification in small communities — require the territory to build big pieces of infrastructure which would cost a lot of money and would take years, said MacLean.

Although renewable diesel is also more expensive than conventional diesel, MacLean agrees with MLA Morgan about it being a more cost-effective solution for reducing emissions. He also pointed to California as an "incredibly successful" example of how policy can be developed so those costs aren't immediately shouldered by consumers.

California has a clean-fuel regulation that gives low-carbon fuel producers credits which are, in turn, purchased by fossil fuel producers, said MacLean. That means companies making low-carbon fuel can offer their product to consumers for the same price as conventional oil and still make money.

MacLean cautioned, however, that renewable diesel isn't a silver bullet for everyone.

"It's unfortunate that people don't take a more regional lens to these things, because it makes a difference. The devil is always in the details," he said.


Natural gas opposition 'ideological,' new Ontario energy minister says

The Canadian Press
Thu, June 13, 2024


CLARINGTON, Ont. — Ontario's new energy minister is unapologetic about the province's use of natural gas to partly fuel growing energy needs, calling opposition to it "ideological."

Stephen Lecce took over the portfolio last week in a cabinet shuffle, when he was moved from the education file that he oversaw for five years.

Premier Doug Ford also gave the ministry a new name, dubbing it the Ministry of Energy and Electrification, and Lecce said it is about building the energy infrastructure needed to meet the demands of the economy, including large-scale manufacturing facilities such as the electric vehicle battery plants being built in the province by Volkswagen, Stellantis and Honda.

"The reality is we need more energy and the mission of our government is to build upon Ontario's already ambitious plan to scale up our energy using all forms, be it nuclear and natural gas and renewables," Lecce said Thursday at a news conference.

"We need to take an all-of-the-above approach to build for the future."

Ontario's electricity system operator recently procured new power supply from 10 battery storage facilities, which can charge during off-peak hours and inject energy back into the grid when it's needed, as well as three natural gas and biogas facilities.

The new 20-year contracts are for electricity supply set to come online between 2026 and 2028 and the Independent Electricity System Operator has said the province will now have enough electricity for the rest of this decade.

But while the government has said recent moves to add more natural gas generation to the electricity system were necessary in order to ensure enough supply and flexibility – particularly as nuclear plants undergo refurbishments – it has caused greenhouse gas emissions from the sector grow.

In 2021, the electricity system was 94 per cent emissions free, but that is now down to 87 per cent.

Lecce said Thursday that Ontario's grid is still one of the cleanest on the continent, and, he emphasized, the government's decisions will ensure it remains reliable and affordable.

"What we will not do, and I cannot underscore this enough, is we will not pursue a path, an ideological path, that will deny some forms of energy when we need all of them to help fuel our economy," he said.

Green Party Leader Mike Schreiner said Lecce's comments are "totally disconnected from the reality Ontario is facing."

"Ramping up expensive, dirty gas plants makes no sense when people are facing an affordability crisis and a climate emergency," he wrote in a statement.

The IESO said in a 2022 report that Ontario could fully eliminate natural gas in the electricity system by 2050, starting with a moratorium in 2027, but it would require between $375 and $425 billion in capital costs over 23 years, including building new, large-scale nuclear plants, resulting in annual operating costs of about $60 billion by 2050 — three times the current costs.

If consumer costs become too high, it could jeopardize the plan to decarbonize, the IESO said.

The former Liberal government faced widespread anger over high hydro bills, driven up in part by long-term contracts at above-market rates with clean power producers secured in order to spur a green energy transition.

Ontario is planning to add more wind and solar power to the mix, as well as forging ahead with adding nuclear, including exploring a new, large-scale plant at Bruce Power in Tiverton, Ont., seeking permission to refurbish units at the Pickering nuclear plant, and building four small modular reactors at the Darlington nuclear facility.

Lecce announced Thursday that the first phase of site preparation for the first small modular reactor was complete.

The reactors will produce 1,200 megawatts of electricity, enough to power more than one million homes.

Lecce also announced that a subsidiary of Ontario Power Generation has secured a $360-million deal to help refurbish a nuclear plant in Romania.

As part of the Romanian deal, Ontario nuclear workers will provide their expertise on the refurbishment after the federal government came to an agreement with the European country to provide work on its lone nuclear plant.

This report by The Canadian Press was first published June 13, 2024.

Allison Jones, The Canadian Pres

NDP bill to criminalize coercive control in intimate partner violence heads to Senate
The Canadian Press
Wed, June 12, 2024

OTTAWA — An NDP private member's bill that would criminalize a pattern of abuse known as coercive control is heading to the Senate.

The legislation from Victoria MP Laurel Collins passed third reading unanimously in the House of Commons today.

The bill would amend the Criminal Code to criminalize coercive control, which experts say abusers often use to isolate and instil fear into victims of intimate partner violence.

It defines coercive control as behaviour that includes threatening to use violence against a partner or their child or pet, as well as trying to control their finances and movement.

When introducing the bill last fall, Collins shared some of her sister's story, saying her partner had taken away her bank cards and keys to try and stop her from leaving.

Since then the MP says she's heard from hundreds of others who have shared their own experience with coercive control or that of someone they love.

This report by The Canadian Press was first published June 12, 2024.

The Canadian Press

Mi'kmaw fishermen say they're being threatened, prevented from selling catch in Cape Breton

CBC
Fri, June 14, 2024 

Damaged moderate livelihood lobster traps seen on the wharf in Louisbourg, N.S., last month. (Tom Ayers/CBC - image credit)


Some Mi'kmaw lobster fishermen say they're still being prevented from earning a moderate livelihood, more than two weeks after the Department of Fisheries and Oceans began investigating allegations of trap tampering near Louisbourg, N.S.

Last month, Eskasoni First Nation fisherman Charles Francis said 70 of his 178 traps were damaged.

Since then, some Mi'kmaw fishermen say they have been threatened, denied fuel sales and mechanical work on their boats, and are being prevented from selling their catch by some people in or associated with the commercial fishery.

"It's pure racism," said Michael Basque, the moderate livelihood fishery co-ordinator for Unama'ki, which is the Mi'kmaw name for Cape Breton. "It's just they don't want the native there."

Under a moderate livelihood authorization between DFO and Mi'kmaw harvesters, designated First Nations community members can catch and sell lobster during the commercial season without increasing the number of traps licensed in lobster fishing areas (LFAs) and without harming the stock's conservation level.

Charles Francis, left, says he and his crew are being denied their right to earn a moderate livelihood by non-Indigenous fishers who cut their traps and threatened their buyer.

Charles Francis, left, says he and his crew are being denied their right to earn a moderate livelihood in Cape Breton. Last month, dozens of Francis's lobster traps appeared to be deliberately damaged, with their wooden frames smashed and the mesh cut. (Tom Ayers/CBC)

Fabian Francis, Eskasoni's moderate livelihood co-ordinator, said several of the First Nation's boats have been targeted, with about 400 traps lost so far this season. He attributed the losses to non-Indigenous fishers.

"We're not the bad guys," he said. "We're not trying to take any food off their plate. We're just trying to get a piece of the pie, and we're asking for a small piece and respect and safety.

"I'm in fear for the safety of my fishers."

Francis said M'ikmaw harvesters follow DFO regulations and make up less than five per cent of the fishery in LFA 27, which runs from the northern tip of Cape Breton to Louisbourg on the east side of the Island.

"We have very, very little impact, but yet we're shown racism like it's the 1940s and '50s in Alabama. It's ridiculous. You know, it's 2024," he said.

Co-ordinator calls for more education

Basque said not all commercial fishermen are against the moderate livelihood fishery, but those who are don't seem to know that the Mi'kmaq have a legal right to share in the catch.

Francis said DFO needs to do more work to educate the public about the treaty right to fish.

DFO's Maritimes director of conservation and protection, Tim Kerr, said the department is out on the wharves and the water and has had some success getting the message out.

"That being said, we can always improve communications with the public and so we'll continue to work with our communications team here and with fishing organizations and associations to make sure that all harvesters are informed of the First Nations' ability and authorization to exercise their moderate livelihood."

Kerr says DFO enforcement officers are on the wharves and on the water, as seen in this department file photo from Margaretsville, N.S.

DFO says enforcement officers are on the wharves and on the water, as seen in this department file photo from Margaretsville, N.S. (DFO Maritimes)

Kerr said trap tampering not only deprives people of their livelihood, but can also harm the fish stock.

"If you're making your livelihood on the water, you should be very concerned that gear tampering doesn't happen and work yourself to try to prevent it."

Kerr said officers are still investigating alleged trap vandalism near Louisbourg this season. Those convicted can face fines and be suspended from fishing.

Last month, a Cape Breton fisherman was fined $7,000 and ordered to pay $600 in restitution after tampering with traps last fall in a Mi'kmaw food, social and ceremonial (FSC) fishery. He was also suspended from the herring fishery for two weeks.

'Consequences ... can be severe'

In another case, a fisherman from the Island was fined $6,200 for tampering with FSC traps last year. He was also ordered off the water and the wharf between July and January, Kerr said.

That fisherman pleaded guilty last month for failing to comply with the order and lost his licence for four months and is prohibited from putting his boat in Nova Scotia waters.

"If you are arrested and you are charged for gear tampering, then the consequences for your own livelihood, if you are a fisherman yourself, can be severe," Kerr said.

Nova Scotia, Newfoundland push for quick passage of federal offshore accord changes

The Canadian Press
Thu, June 13, 2024 

The Canadian Press


OTTAWA — The governments of Nova Scotia and Newfoundland and Labrador urged a Senate committee Thursday to quickly pass legislation that would help establish a wind industry off Canada’s East Coast.

Tory Rushton, Nova Scotia’s minister of natural resources, told the committee that the bill, which amends the Atlantic accords, is “pivotal” to help his province reduce its fossil fuel use.

The bill would enable the development of offshore wind farms and expand the mandates of both provinces' offshore petroleum boards to include renewable energy by amending agreements with Ottawa that have helped to regulate oil and gas projects in Atlantic Canada for decades.

Rushton said Nova Scotia would like to see the bill passed without further amendments so his government can introduce mirror legislation this fall and then issue its first call for project bids in 2025. The province plans on offering licences for five gigawatts of offshore wind energy by 2030.


“There’s not a lot of time, so again I urge our federal partners to move this bill,” Rushton told the committee.

Under questioning from the committee, Rushton said any delay of the legislative changes that would run deep into the fall would come at a cost for both provinces.

“If this is delayed past the fall so we can’t do our mirror legislation … we’re going to lose a whole year of investments from these projects that, quite frankly, will leave Canadian waters and go somewhere such as the North Sea,” the minister said.

Andrew Parsons, Newfoundland and Labrador’s energy minister, said the legislation would allow the province to build a new energy sector that will create jobs and reduce carbon emissions.

“We are in a global competition and some would say we are even in competition with our colleagues in Nova Scotia, but the reality is I do think there is a strong path forward for both provinces and it will have a national impact,” Parsons said.

However, groups including the union for inshore fishers and processing workers in Newfoundland and Labrador and the Assembly of Nova Scotia Mi’kmaw Chiefs called for more time so they can study whether offshore renewable energy development harms the fishery or the environment.

Katie Power of the Fish, Food and Allied Workers Union, said her membership doesn’t support “the haste with which the Senate is expected to process this bill” and wants to see protections built in so fishers aren’t further restricted from the areas of ocean they harvest.

“We are very contained in where we can fish, so to have that economic area further reduced by another industry is, of course, terrifying for our members,” Power said.

Senator Mary Jane McCallum, a non-affiliated committee member from Manitoba, asked Rushton whether he was aware of objections raised by Nova Scotia’s Mi’kmaw chiefs who recently wrote to the committee asking for more time.

“Given the significance and magnitude of this bill and its far-reaching consequences for the assessment of offshore renewable energy projects, we (Mi’kmaw chiefs) have serious concerns of the prospect of it being unduly rushed through committee,” McCallum read aloud from the letter.

Rushton replied that he was unaware of the letter but added that if that was the chiefs' concern then “further conversations” were needed.

Senate committee chair Paul Massicotte later interjected that the letter was “a concern” and said a hearing with the chiefs will be scheduled in September before a clause-by-clause examination of the bill proceeds.

The Assembly of Nova Scotia Mi’kmaw Chiefs was unavailable for comment on Thursday.

This report by The Canadian Press was first published June 13, 2024.

— By Keith Doucette in Halifax

Surprise letter from Mi'kmaw chiefs derails N.S. minister's attempt to fast-track federal bill

CBC
Thu, June 13, 2024 

Natural Resources and Renewables Minister Tory Rushton travelled to Ottawa to speak in favour of Bill C-49. Rushton said if there are concerns from the Assembly of Mi'kmaw Chiefs about the bill, further discussions will have to take place. (CBC - image credit)

Nova Scotia's plea to speed up passage of federal legislation impacting offshore wind projects suffered a blow Thursday when a Senate committee said it had received a letter from Mi'kmaw chiefs raising concerns about how quickly the bill is moving toward becoming law.

Tory Rushton, Nova Scotia's minister of natural resources and renewables, told the Senate's standing committee on energy, the environment and natural resources that Mi'kmaq are "partners" and "supporters" of the province's "transition to clean energy."

But Sen. Mary Jane McCallum of Manitoba informed Rushton during his testimony that the committee had received a letter from the Assembly of Nova Scotia Mi'kmaw Chiefs outlining multiple concerns over Bill C-49, including that the required consultation process had not been followed.

"Mi'kmaw leadership were not aware of the bill, could not assess it, provide feedback or meaningfully participate in something that will significantly impact them and their territory," said the letter, which McCallum read during the meeting.

"Given the significance and magnitude of this bill and its far-reaching consequences for the assessment of offshore renewable energy projects, we have serious concerns at the prospect of it being unduly rushed through committee."

Bill C-49 amends separate offshore accords between Canada and Nova Scotia and Newfoundland and Labrador. It would allow joint provincial-federal offshore petroleum boards to oversee development of offshore wind projects.

Minister blindsided by concerns

Rushton, who travelled to Ottawa with a small delegation that included representatives from the Mi'kmaw communities of Membertou and Potlotek, said it was the first he'd heard of any problems with the bill.

"I've had conversations with chiefs as of late this week, but that was never raised to myself," Rushton told the committee. "That's the first I'm hearing of that letter, to be very honest."

He said further conversations would "absolutely" need to be held to address any concerns from Mi'kmaw chiefs in Nova Scotia.

The Assembly of Nova Scotia Mi'kmaw Chiefs confirmed Thursday it wrote the committee and outlined concerns, but no one was available to discuss the contents of the letter. The organization declined to share the letter with CBC News.

The chair of the Senate committee, Paul Massicotte, told members they would hear from the chiefs in early September before proceeding with examination of the bill.

"They're going to get a full hearing because we're going to have a meeting just for that purpose," said Massicotte.

Delay could come at a cost, warns Rushton

Rushton later told CBC News although he was surprised to hear concerns from the chiefs, he didn't see that as a blow to his efforts to speed up passage of Bill C-49.

"This is new information that's been put in front of me and I think my history has proven [that] whenever an issue's put at hand, I'll deal with it," he said from the airport in Ottawa.

The Houston government had been hoping to introduce mirror legislation in early fall.

Rushton said that would have to wait until the federal bill is passed, but he cautioned any delay could jeopardize "huge investment this fiscal year from many investors that are looking for a regulatory regime put into place."

"It's very important for this legislation to pass as soon as possible," Rushton said.

Early pension eligibility to be extended to more federal workers

CBC
Thu, June 13, 2024 at 11:30 a.m. MDT·2 min read

President of the Treasury Board Anita Anand announces her government's plan to expand early pension eligibility for some federal public servants in front-line jobs in Ottawa on June 13. (Patrick Doyle/The Canadian Press - image credit)


The federal government plans to expand early pension eligibility to more front-line workers, Treasury Board President Anita Anand announced in Ottawa on Thursday.

In a statement, Anand said the government will introduce legislative changes this fall that will allow more public safety workers to retire after 25 years of service without a reduction in their pension.

The move is in response to recommendations made in December by the Public Service Pension Advisory Committee (PSPAC), Anand said.


Eligible employees are expected to include federal and territorial firefighters, and territorial correctional service employees and paramedics. Federal border employees, parliamentary protection officers and federal search and rescue technicians are also expected to be included in the expansion.

Front-line employees of Correctional Service Canada are already eligible for early retirement. Similar provisions are also available to members of the Canadian Armed Forces and the RCMP.

"These proposed changes will provide consistency to how the pension plan recognizes the demanding nature of day-to-day duties for these occupational groups, who have an absolutely critical role in promoting and protecting the safety and security of the population of our country," Anand told reporters Thursday.

Trucks are shown going through customs at the Ambassador Bridge.

Trucks wait to pass through customs at the Ambassador Bridge in Windsor, Ont. Federal border employees are among those expected to be included in the early retirement eligibility expansion. (Patrick Morrell/CBC)

PSAC pleased with announcement

In a statement, Sharon DeSousa, national president of the Public Service Alliance of Canada (PSAC), praised the announcement, adding nearly a decade of hard work and advocacy from their members has paid off.

"It's National Public Service Week, and I can't think of better news to deliver to the federal workers who keep us safe every single day," DeSousa said in the statement.

"After years of being treated like second-class workers, this legislation will offer a dignified retirement to thousands of front-line workers."

According to Anand, expanding early retirement eligibility is expected to cost the government $75 million, plus an ongoing annual cost of approximately $21 million.

Asked if there are plans to further expand eligibility, Anand said she's open to receiving recommendations from PSPAC, but said the decision announced Thursday was based on the nature of those particular jobs.

"The rationale for that particular group is as follows: the demanding and risky nature of the duty, the demanding training and certification requirements, and the lack of opportunity for public service mobilit," Anand said. "But the conversation with the PSPAC committee continues."

Most federal public servants can retire without penalty at 60 or 65, or earlier if they have 30 years of pensionable service.

Canadian national pleads guilty to stealing Tesla trade secrets

Blake Brittain
Thu, June 13, 2024


A Tesla logo is seen at a groundbreaking ceremony of Tesla Shanghai Gigafactory in Shanghai


By Blake Brittain

(Reuters) - A Canadian resident of China pleaded guilty in New York federal court on Thursday to stealing Tesla electric-vehicle battery manufacturing trade secrets and conspiring to sell them to undercover government agents, according to the U.S. Department of Justice (DOJ).

Klaus Pflugbeil, 58, the operator of a China-based business that sells technology used in electric vehicles, faces up to 10 years in prison for plotting with business partner Yilong Shao to sell Tesla's secrets to FBI agents posing as Long Island businesspeople, the department said in a statement.

Neither Pflugbeil's attorney nor representatives for Tesla immediately responded to Reuters requests for comment. Shao, who was also charged but remains at large, could not be reached for comment.

"With his guilty plea, Pflugbeil is now being held accountable for this unlawful conduct that jeopardized our national security," U.S. Assistant Attorney General Matthew Olsen said in a statement.

Pflugbeil, who is also a citizen of Germany, was charged in New York in March. Prosecutors said Pflugbeil and Shao built their EV battery business on trade secrets from a "leading U.S.-based electric vehicle company."

Prosecutors did not name the company but said it acquired a Canada-based manufacturer of battery-assembly lines in 2019, which matches the description of Tesla's acquisition of Canadian company Hibar.

Thursday's statement said that Pflugbeil and Shao both worked for the Canadian company before Pflugbeil joined Shao's business in 2020. DOJ said that the unnamed business now has locations in China, Canada, Germany and Brazil, making the same battery-assembly equipment as their previous employer.

(Reporting by Blake Brittain in Washington; Editing by Alexia Garamfalvi and Sandra Maler)

Canada to contribute $5B to Ukraine loan as G7 leaders reach accord on Russian assets

Nojoud Al Mallees
Thu, June 13, 2024 

The Canadian Press

SAVELLETRI DI FASANO — Canada will contribute $5 billion toward a loan to Ukraine that will be based on future revenue from frozen Russian assets, Prime Minister Justin Trudeau announced Thursday in Italy.

Leaders of the G7 countries have agreed to engineer a US$50-billion loan to help Ukraine in its fight against Russian invaders. It would use interest earned on profits from Russia's frozen central bank assets as collateral.

The long-awaited decision came on the first day of the G7 leaders' summit taking place in Apulia, Italy.

The three-day summit is an opportunity for collaboration among the leaders of the wealthy democracies — France, Italy, Germany, the United Kingdom, the United States, Canada and Japan.

Canada has been heavily involved in the U.S.-led push to use the frozen assets to help Ukraine, something the federal government has flaunted during the summit.

"We're very happy that this is something that leaders have been able to make a political commitment to today," said Cindy Termorshuizen, the personal representative of the prime minister for the G7 summit.

"There's some technical work to be done. But we're really confident that this is going to bring US$50 billion to Ukraine."

The G7 announced it was freezing Russian central bank assets in 2022, shortly after Russia's invasion of Ukraine.

In a bilateral meeting with Ukrainian President Volodymyr Zelenskyy on Thursday, Trudeau commended the G7 for the latest announcement.

"Canada's actually the first country to announce $5 billion of that will be a Canadian contribution," he said.

Zelenskyy thanked Trudeau "for your loud voice" in support of Ukraine.

A government source not authorized to discuss matters publicly said Finance Minister Chrystia Freeland was making calls last month to her G7 counterparts to drum up support for an agreement to use the assets to deliver more financial help to Ukraine.

As leaders announced the increased support on Thursday, Canada joined the U.S. and the U.K. in delivering a stark warning over Russian interference in Moldova, which neighbours Ukraine.

The three countries said in a statement that Russian actors are "carrying out a plot to influence outcomes" of the country's upcoming presidential election this fall.

"They intend to incite protests in Moldova should a pro-Russia candidate not win," the statement said.

"They seek to foment negative public perceptions of Western governments, Moldova's incumbent leadership and Moldova's potential for EU integration, while degrading public confidence in Moldova's ability to secure itself and maintain rule of law"

The statement said the three countries have full confidence in Moldova's ability to manage the threats, and they are taking measures to support the efforts.

"By revealing the Kremlin’s plot, we are making it clear to Moscow that we stand for free and fair elections and will not tolerate its attempts to meddle and undermine democratic processes," it said.

Against that backdrop, U.S. President Joe Biden and Zelenskyy signed a new agreement on the sidelines of the summit Thursday designed to bolster Ukraine's defences in the long term.

Canada has also announced sanctions against 11 people and 16 entities connected to Russia's "military-industrial complex," the Prime Minister's Office said in a news release. That includes entities involved in circumventing sanctions on Russian oil.

Trudeau held meetings with German Chancellor Olaf Scholz and French President Emmanuel Macron on the first day of the summit.

Other issues on the agenda are the Israel-Hamas war, China's industrial policy and partnership with Africa.

After a recent European parliamentary election result that shored up support for far-right political parties, Italian Prime Minister Giorgia Meloni seemed to kick off the summit by flexing her muscles as one of the most stable leaders in the group.

Italian negotiators successfully removed the word "abortion" from a draft of a G7 communique that leaders expect to release during the summit, though it still reaffirms commitments to abortion rights agreed to last year, the ANSA news agency reported.

Asked about the change, Macron told an Italian reporter on the sidelines of the summit: "I regret this."

He added that France includes a women's right to abortion in its constitution, and the country defends "this vision of equality between women and men."

Termorshuizen would not comment on whether abortion will be mentioned in the final communique.

"You'll see in the communique tomorrow that there is very strong language on gender equality on LGBTQ issues," she said.

On Friday, Pope Francis will become the first pope to address a G7 summit.

He is expected to speak about the promises and perils of artificial intelligence, and also to renew his appeal for a peaceful end to Russia’s full-scale invasion of Ukraine and the Israel-Hamas war in the Gaza Strip.

This report by The Canadian Press was first published June 13, 2024.

— With files from The Associated Press.

Nojoud Al Mallees, The Canadian Press

LA REVUE GAUCHE - Left Comment: Search results for PERMANENT ARMS ECONOMY 

Canada Foreign Meddling Report Sparks ‘Traitors’ Accusation

Thomas Seal
Fri, 14 June 2024 

(Bloomberg) -- The leader of Canada’s third-largest national party said some of the country’s lawmakers were “traitors” who should be banned from Parliament and face prosecution after he read a classified report on foreign interference in the democracy.

“What they’re doing is unethical, it is in some cases against the law, and they are indeed traitors to the country,” said Jagmeet Singh, leader of the New Democratic Party.

Singh spoke on Thursday after reading an unredacted version of a report on foreign interference from Canada’s National Security and Intelligence Committee of Parliamentarians. He declined to share the names of lawmakers allegedly accused in the report of working for foreign states, saying that doing so could jeopardize national security efforts.

A redacted version of the document was published on June 3 and said that China and India are the biggest perpetrators of foreign meddling. NSICOP is a senior, cross-party group of lawmakers with “top secret” security clearances.

The NDP supports Prime Minister Justin Trudeau’s government in a Parliamentary confidence deal, but Singh accused the country’s leader of being soft on foreign interference.

Foreign Interference

“It’s clear that he accepted a certain level of knowledge of foreign interference and didn’t do anything,” Singh said at a press conference on Thursday, adding that the prime minister delayed swift action “and doing so sends a message that some level of interference is acceptable.”

A spokesperson for Public Safety Minister Dominic LeBlanc said in an emailed statement that foreign interference shouldn’t be a partisan issue.

“Our government has been clear – any attempt to interfere in Canada’s democracy is completely unacceptable,” LeBlanc’s office said. “Over the last number of years, we have taken action to detect, disrupt and counter those attempts,” including by establishing the public inquiry.

Canada is holding a public inquiry into foreign interference that last month concluded in an interim report that there were attempts from foreign actors, particularly China, to sway its elections in 2019 and 2021. The report said those efforts didn’t affect the outcome of the elections.

Trudeau ordered the hearings after media reports cited classified intelligence memos that Chinese meddling may have helped certain Liberal Party candidates get elected.

In his remarks about Trudeau, Singh referred to an alleged incident described in the report: In 2019, Liberal officials were notified by Canada’s spy agency CSIS about allegations of possible Chinese efforts to influence a nomination contest for a Liberal seat. After receiving caveatted information, and being advised by his campaign director not to remove the candidate, Han Dong, Trudeau didn’t intervene.

Dong, who was eventually elected, has rejected the accusations. He later resigned from the Liberal Party.

Conservative Party

Singh added that the document indicated that he, personally, was also a target of overseas efforts.

Singh also accused Trudeau’s main rival, Conservative Party leader Pierre Poilievre, of willful ignorance and dodging scrutiny on the subject, citing the report’s description that Conservative Party leadership races were also targeted for alleged interference.

Poilievre has opted not to accept confidentiality requirements to read the report, for fear they could hamstring his role in government scrutiny. Instead he has called for the names of witting accomplices in interference to be made public.

A Conservative Party representative said via email that if Singh “really has concerns that the prime minister has failed to take national security seriously and has failed to protect our democracy against foreign interference, then he should stop blindly supporting the Liberal government and let them face Canadians in an election.”

‘Vastly Relieved’

Other politicians have drawn different conclusions from the full report. On Tuesday, Green Party leader Elizabeth May said “there is no list of MPs who have shown disloyalty to Canada,” adding “I am vastly relieved.”

However, she did say that a parliamentarian, who no longer sits in the House of Commons and isn’t named in the report, shared confidential information with a foreign intelligence officer, and that that person should be investigated and prosecuted.

Singh’s NDP supports Trudeau’s Liberals, Canada’s biggest party, in votes, allowing them to form a government. Asked why he continues to do so given his concerns, Singh said he’s going to use his role in Parliament to demand answers, instead of pulling out of the pact and triggering a general election.

“The suggestion that an election is a solution to election interference is, I think, a fallacy,” he said.

--With assistance from Laura Dhillon Kane, Thomas Seal and Bill Faries.

Canada lawmakers who knowingly helped other nations must be removed, party leader says

Reuters
Thu, June 13, 2024

 Canada's New Democratic Party leader Jagmeet Singh speaks to journalists before Question Period in the House of Commons on Parliament Hill in Ottawa

OTTAWA (Reuters) - The head of a Canadian political party said on Thursday that an intelligence report about some members of parliament acting as agents for other nations was concerning and that offending lawmakers must be removed.

Prime Minister Justin Trudeau has been on the defensive since a committee of lawmakers that focuses on security matters said in a heavily redacted report this month that some elected officials had been "witting or semi-witting" participants in foreign interference operations.

"I am more alarmed today than I was yesterday," Jagmeet Singh of the opposition left-leaning New Democrats said on Thursday, after reading an unredacted version of that report.


Singh, who as the leader of a major party exercised his right to request increased security clearance to read the documents, said the report showed Canada is vulnerable to foreign interference and weakened the confidence of citizens.

"If there continues to be no consequences for MPs who knowingly help foreign governments act against Canadian interests, we will continue to be an easy target," Singh said.

"Removing MPs who knowingly participate in foreign interference would have the deterring effect on this type of behavior," he added

In the report, which was based on information from intelligence agencies, the committee of parliamentarians did not reveal any names but said India and China were the main foreign threats to Canada's democratic institutions.

Singh did not name any lawmakers either, or say how many were named in the report or if any them were sitting MPs, but he added that the report gave him "no reason" to remove any members of his own party.

Ministers have said naming legislators would break the law and that it would be up to police to investigate.

On Monday, the Trudeau-led Liberal government, facing accusations it is soft on security, bowed to opposition demands to refer the matter to a special inquiry underway to assess allegations of foreign interference in last two Canadian elections.

The special inquiry, in an interim report, last month announced it had found evidence of foreign interference in those federal elections but said the results of the votes were not affected and the electoral system was robust.

Canada's main spy agency last month said persistent Chinese election meddling had the potential to undermine Canadian democracy. Beijing routinely denies accusations of interference.

(Reporting by David Ljunggren and Ismail Shakil; Editing by Bill Berkrot)

A 'cloud of suspicion' hangs over Parliament — and no one knows what to do about it

Releasing the names would not be so simple — and even NSICOP might not be able to clear the air entirely

CBC
Wed, June 12, 2024 

Prime Minister Justin Trudeau responds to a question during Question Period, in Ottawa, Tuesday, June 11, 2024. THE CANADIAN PRESS/Adrian Wyld


There is a "cloud of suspicion" hanging over the House of Commons, Conservative MP Gerard Deltell said on Monday.

On this meteorological metaphor (if on nothing else), there is widespread agreement.

"A dark cloud hangs over all 338 members," Liberal MP Ken McDonald said.

"It is true that since the report landed with the force of a bomb last week, it has let a cloud of suspicion hang over this entire place," NDP MP Alistair MacGregor said.

"It puts us under a cloud of suspicion, a permanent cloud," Bloc Québécois MP Yves Perron suggested.

If a cloud now hangs over Parliament, it was created by parliamentarians who allegedly collaborated, deliberately or otherwise, with hostile foreign states — or at least by the intelligence sources that relayed those allegations to Canada's national security agencies.

Green Leader Elizabeth May says there's no list of disloyal current MPs in unredacted NSICOP report


Liberals support push to have public inquiry probe claims that parliamentarians helped foreign states


A report claims certain parliamentarians colluded with foreign states — could they be charged?

That cloud was then dangled over Parliament Hill last week by the National Security and Intelligence Committee of Parliamentarians (NSICOP) when its members chose to float those allegations without naming the individuals in question.

NSICOP suggested that MPs or senators have acted "contrary to the oaths and affirmations Parliamentarians take to conduct themselves in the best interest of Canada." But the committee did not say how Parliament should proceed from there — what should be done now that unnamed members have been broadly accused of serious wrongdoing.

Left to their own devices, parliamentarians have been unable to arrive at a resolution. And in lieu of a clear path forward, the House of Commons has decided to ask for more help — this time from Justice Marie-Josée Hogue's commission on foreign interference.

It remains to be seen if Hogue can bring more clarity to a situation that is crying out for it.
The challenge with naming names

It is the Official Opposition's view that the government simply needs to "name names."

"I would remind the minister and the government that what is being asked of the government is not to make known to the public sensitive intelligence, or sources and methods," Conservative MP Michael Cooper told the House on Monday. "What is simply being asked of the Liberals, the government, is to provide the names of the compromised MPs and senators — just the names, please."

But just releasing the names wouldn't necessarily be so simple. Releasing names without any evidence or supporting information could be unfair to the named MPs or senators. Public Safety Minister Dominic LeBlanc also told a House committee last week that, in some cases, allegations against parliamentarians are tied to "uncorroborated or unverified" intelligence information.

Liberal MP Nathaniel Erskine-Smith has argued that demanding names without also demanding "due process" is "irresponsible." For the sake of avoiding a witch hunt, some kind of due process would seem sensible.

As Conservative MP Michael Chong reminded MPs on Monday, Parliament is empowered to govern its own membership and has the power to expel members. The last time Parliament exercised that power was in the case of an MP — Fred Rose — who was found to have spied for the Soviet Union. But in Rose's case, the House of Commons only voted to declare his seat vacant in 1947 after he had been convicted in court of violating the Official Secrets Act.

In this case, even NSICOP has acknowledged that criminal charges against the parliamentarians in question are unlikely.
Are party leaders taking responsibility?

Philippe Lagasse and Stephanie Carvin, two academics who have studied national security, have argued that the best — and perhaps only — path forward is for party leaders to take responsibility for their own caucuses.

In this scenario, each party leader would be given the security clearance necessary to view the intelligence that underpins NSICOP's report. The leaders could then take action to sideline or punish MPs whose activities are cause for concern — or even ban those MPs from running under their party banner again.

Erskine-Smith has argued that approach would raise questions of procedural fairness. On the other hand, as Lagasse and Carvin note, MPs and senators have been expelled from caucus for "far less."

Just Asking wants to know: What questions do you have about foreign interference in Canadian politics? How concerned are you about the latest report from Canada's national-security watchdog? Fill out the details on this form and send us your questions ahead of our show on June 15.

But what Lagasse and Carvin propose is premised on the assumption that all party leaders would be willing to cooperate and act.

It's not clear yet whether Prime Minister Justin Trudeau — who has ready access to classified information — has taken any action against Liberal MPs in response to the allegations contained in the NSICOP report. Conservative Leader Pierre Poilievre, meanwhile, is refusing to go through the security clearance process that the government has offered to him so that he can view an unredacted version of the NSICOP report.


Conservatives seem to view the offer as some kind of trap that would prevent Poilievre from questioning or challenging the government on the issue of foreign interference. It's not clear Poilievre wouldn't still be able to use parliamentary privilege to say whatever he wanted inside the House of Commons with impunity.

But regardless, his refusal to receive a security clearance could be preventing him from taking any of the actions that Lagasse and Carvin suggest.
Over to Justice Hogue

The other three opposition leaders — the NDP's Jagmeet Singh, Green Leader Elizabeth May and Yves-François Blanchet of the Bloc Québécois — have agreed to view the unredacted NSICOP report. Singh will apparently have his chance on Wednesday.

Speaking to reporters on Tuesday after being the first opposition leader to see the unredacted report, May said she came away feeling less suspicious of her colleagues.

She later told the CBC's Power & Politics that the unredacted report did not list the names of currently serving Parliamentarians accused of wittingly conspiring with foreign states — which suggests even NSICOP may not be able to provide much clarity.

Green Party leader Elizabeth May speaks while referencing a copy of a public security report during a news conference, in Ottawa, Tuesday, June 11, 2024. THE CANADIAN PRESS/Adrian Wyld

On Tuesday afternoon, the House voted 320-2 to effectively punt the matter to Justice Hogue (May and fellow Green MP Mike Morrice voted against). Appealing to an independent adjudicator makes some sense, but it might also be months before we know whether Hogue is able to meaningfully clear the air.

Kent Roach, a law professor at the University of Toronto, points out that section 13 of the Inquiries Act states that "no report shall be made against any person until reasonable notice has been given to the person of the charge of misconduct alleged against him and the person has been allowed full opportunity to be heard in person or by counsel." That suggests the foreign interference commission could offer due process and then name names.

But it's also conceivable that national security concerns could still stand in the way of releasing those names publicly. It also stands to reason that Hogue might find she is not able to definitively rule on any parliamentarian's guilt or innocence.

Either way, the cloud over Parliament is going to hang there for a while yet. And one way or another, parliamentarians will end up having to do something about it themselves.

Just Asking wants to know: What questions do you have about foreign interference in Canadian politics? How concerned are you about the latest report from the National Security and Intelligence Committee of Parliamentarians? Fill out the details on this form and send us your questions ahead of their show on June 15.

Canada Gets New Ambassador From China As Tensions Persist

Jay Zhao-Murray
Wed, June 12, 2024 


(Bloomberg) -- China’s new ambassador to Canada, Wang Di, has arrived in Ottawa amid a diplomatic chill between the two countries.

Wang’s predecessor, Cong Peiwu, returned to China in April following allegations that the Asian powerhouse had interfered in Canada’s elections to tip the scales toward candidates deemed favorable to Beijing.

The foreign interference scandal continues to cause turmoil in Canada, recently amplified by a new, heavily redacted report that alleged some Canadian parliamentarians were “semi-witting or witting” participants in foreign interference.

Canada is also weighing whether it needs to raise tariffs on Chinese-made vehicles after the White House announced major new levies on them. The European Union announced Wednesday it will bring its own levies on Chinese cars to as much as 48%.

Still, Canada’s Foreign Minister Melanie Joly has signaled her pursuit of “pragmatic diplomacy,” and the need to engage with China and some other non-like-minded countries. Her deputy minister, David Morrison, visited China earlier this year.

Wang was formerly the Chinese ambassador to Kuwait and served as the deputy director of West Asian and North African Affairs in the Chinese foreign ministry.

Canada needs electric, not gas, to avoid high costs and emissions

Energy production and use in Canada accounts for more than 80% of the country’s GHG emissions, with oil and gas production alone accounting for around a quarter

Smruthi Nadig
Thu, Jun 13, 2024


Research from the Canadian Climate Institute (CCI) finds that provinces must move from gas to electricity to prepare for the energy transition and subsequently avoid high consumer costs.

The report also reveals that altering the energy mix for building heat in homes and businesses – as well as changing energy infrastructure to support the shift from gas to electricity – will be necessary to reduce emissions from buildings and help meet Canada’s climate goals.


The CCI’s senior research director, Jason Dion, said: “Expanding gas infrastructure to heat buildings today would be like investing heavily in a chain of video rental stores 15 years ago.”

He added: “Energy systems need to plan for the reality arriving on our doorstep. The smart approach to protect consumers and ensure affordable, reliable energy in the future is to grow the electricity system – not lock in more dependence on gas.” He was commenting within a statement published online.

Achieving net-zero emissions in residential, commercial and institutional buildings will require significant reductions in gas usage across all provinces. For instance, compared with current levels, gas usage is expected to decrease by up to 98% in Ontario and between 70% and 87% in Alberta.

According to the report, hybrid systems, which utilise gas as a backup for electricity, can serve as a crucial transitional phase towards complete electrification and may remain relevant in certain regions in the long run.

However, hybrid systems will not require large amounts of gas in order to work effectively.

If investment in the gas network keeps increasing and gas connections remain the default choice for new buildings, the report says the costs of overbuilt and underused gas infrastructure could fall on governments, shareholders and remaining gas consumers as more individuals transition to cleaner alternatives.

Kate Harland, the CCI’s research lead, said: “Regulators make choices about infrastructure that will affect ratepayers’ costs for decades – but those decisions are not required to factor in climate goals, including reaching net-zero emissions. That big disconnect could drive up energy bills in the decades ahead.

“Provinces need to make forward-looking decisions about energy system investments, and they need to make plans and policies today to protect consumers in the economy-wide energy transition that is under way,” she added.

According to the International Energy Agency (IEA), Canada has set an ambitious target of cutting greenhouse gas (GHG) emissions by 40–45% from 2005 levels by 2030 and reaching net-zero emissions by 2050.

Energy production and use in Canada accounts for more than 80% of the country’s GHG emissions, with oil and gas production alone accounting for around a quarter, said the energy body.

However, the IEA, in a statement on its website, said Canada’s electricity system is already among the “cleanest in the world, with heavy dominance of hydropower as well as an important role for nuclear”.

"Canada needs electric, not gas, to avoid high costs and emissions" was originally created and published by Offshore Technology, a GlobalData owned brand.

Canada's parliament grills bank CEOs on climate policy in rare meeting

Reuters
Thu, June 13, 2024

FILE PHOTO: A combination photo shows Canadian investment banks RBC CIBC BMO TD and Scotiabank in Toronto

TORONTO (Reuters) - The CEOs of Canada's big five banks on Thursday reassured members of parliament about their commitment to fighting climate change, but said reducing funding for fossil fuel extraction would take time and more works need to be done to reach net zero emissions.

In a rare meeting, MPs grilled the heads of Royal Bank of Canada, TD Bank Bank of Montreal, Bank of Nova Scotia and CIBC appeared via videolink before a House of Commons committee to answer questions about any steps their banks are taking to help reduce greenhouse gas emissions and steer away from fossil fuel funding.

Canadian banks, among the biggest oil and gas financiers in the world, have come under pressure over recent years with demands to change their lending practices that contribute to climate change.

The five banks financed about $104 billion to fossil fuels last year, 13% of the value of the deals covered from global banks, according to a recent report.

The banking and oil and gas industries contribute roughly about 3% to 5% to Canada's gross domestic product.

"Energy is still a big part of the Canadian economy. And therefore, we have to continue to support the economy as we make the transition, you have to do both, can't just do one," RBC CEO Dave McKay said in response to a member of parliament's questions.

The banks have all set climate goals but members questioned the lack of commitment to only finance companies if the projects are verified to have an impact that will reduce the greenhouse gas emissions significantly.

"I think that's part of the problem- is that the commitments are vague. We're talking about sustainable investments. There's no real definition around it. There's not a lot of transparency around it," MP Leah Taylor Roy said.

The banks' short and long-term emissions reduction targets includes net-zero in operations and financed emissions by 2050, while helping clients to make the transition.

Canada, the world's fourth-largest oil producer, has pledged to cut greenhouse gas emissions 40% to 45% below 2005 levels by 2030.

TD's CEO Bharat Masrani said it would follow an "orderly transition" and support responsible oil and gas industry responsible while making sure the bank provides capital and investment to move to a net-zero world.

Meanwhile, environment activists criticised the lack of a commensurate plan of action.

"The investments they make are holding the country back from climate progress and, until now, there had been no signs they would be held to account," said Julie Segal, senior manager of climate finance at Environmental Defence Canada said.

(Reporting by Nivedita Balu in Toronto; Editing by David Gregorio)

Bank CEOs face questions from MPs over climate policy

CBC
Thu, June 13, 2024

David McKay, president and CEO of RBC, addresses the company's annual meeting in Halifax in April 2019. Representatives from Canada's five biggest banks faced questions from MPs this afternoon over their commitments to help reduce greenhouse gas emissions and spur the transition to renewable forms of energy. 

(Andrew Vaughan/The Canadian Press - image credit)

Representatives from Canada's five biggest banks were put on the defensive as they faced questions from MPs over their commitments to help the country meet its climate goals and spur the transition to renewable forms of energy.

The chief executives of Royal Bank, CIBC, TD Bank Group, BMO Financial Group and Scotiabank appeared Thursday before the standing committee on environment and sustainable development. All five opted to attend by videoconference.

NDP MP Matthew Green criticized David McKay, the head of RBC, for "touting" his climate record, while "continuing to be one of the largest financiers of fossil fuels in the world."


"This is a transition," McKay said.

"It's a complex transition. We are not getting off fossil-based fuels immediately. To just stop is not an option for us. We have to commit to finding green sources of energy."

Canadian banks have come under criticism for how their lending practices contribute to climate change, given that they are among the largest financiers of oil, gas and coal globally. A recent report calculated that Canada's top banks pumped a combined $103.85 billion US into fossil fuel projects in 2023.

The five largest banks have made both short- and long-term emissions reduction targets, including net-zero financed emissions by 2050, but have also been criticized for not moving fast enough.

Anotherrecent report, from InfluenceMap, a global climate policy watchdog, found that Canada's largest five banks have not aligned "their short- and medium-term emissions reduction targets with their long-term net zero commitments."

"All five banks have set 2030 interim targets for the oil, gas, and power sectors among other sector targets. However, these are almost all relative, intensity-based targets, allowing for absolute financed emissions to rise."

Today's testimony comes a week after the same committee questioned the CEOs of Canada'stop oil and gas producers over their climate commitments.

New rules for banks?

Independent Quebec Sen. Rosa Galvez has proposed a bill, known as the Climate-Aligned Finance Act, that would impose new rules on Canadian financial institutions to make sure they are aligned with the country's climate goal.

The bill was tabled more than two years ago, but it remains at the committee stage in the Senate. It faces several more hurdles before it would be put to a vote in the Senate, and then make its way to the House of Commons.

The Canadian Bankers Association (CBA), which represents the country's largest banks, isopposed to the legislation, saying it would add unnecessary regulations on the sector.

Maggie Cheung, a CBA spokesperson,told CBC News recently that "Canada's banks understand the important role that the financial sector can play in facilitating an orderly transition to a low-carbon future."

"This includes working with clients across industries to help them decarbonize and pursue energy transition opportunities, and financing new and existing green projects that will help Canada meet its net-zero ambitions," Cheung said.

Julie Segal, a climate finance specialist with the advocacy group Environmental Defence, said Thursday the banks' "voluntary climate commitments have proven fickle" and more regulations are "direly needed."

"We need credible climate transition transition plans from these banks and financial institutions, and since thy are not designing these on their own we need rules to ensure they happen and are delivered," she said.

Bank CEOs push back on MP calls to reduce oil and gas funding

Ian Bickis
Thu, June 13, 2024 

The Canadian Press

The CEOs of Canada's five biggest banks stuck to the message that they're committed to help in the energy transition as they were questioned by a parliamentary committee Thursday about their impacts on climate change.

The leaders of Royal Bank of Canada, TD Bank Group, BMO Financial Group, Scotiabank and CIBC pushed back against MPs who said they were making the problem worse by funding the oil and gas industry to the tune of more than a hundred billion a year, and challenged them to cut back.

"Just stop is just not an option for us," said RBC chief executive Dave McKay, appearing by video conference along with the other CEOs before the House of Commons standing committee on environment and sustainable development.

"It's important that we do this in an orderly fashion, or we risk the entire journey. We have to protect jobs along the way," he said.


The banks all talked about their commitments to working with clients through the transition, rather than pull back on funding, along with their net zero and sustainable finance targets.

Pushed to at least stop funding fossil fuel expansion, executives maintained that it's not that straightforward.

"This is a complex transition. We are not getting off fossil-based fuels immediately," said McKay, who, as head of Canada's largest bank and largest oil and gas funder, was asked the most questions.

Executives said they have to keep funding fossil fuels, as well as cleaner energy sources.

"We have to do both," said TD Bank Group chief executive Bharat Masrani.

"We have to support oil and gas industry, responsible oil and gas industry, as we go through this orderly transition. And at the same time, make sure we are providing the capital in the to move to a net zero world."

In a press conference ahead of the testimony, several environmental groups thanked the committee for its leadership in summoning bank executives, and called on legislators to put in regulations to force banks to take more action on climate change.

While the banks have made various commitments, they aren't moving fast enough, and haven't said how they plan to achieve those targets, said Julie Segal, senior manager of climate finance at Environmental Defence.

“While each of the Canadian banks have climate commitments, none of them have a commensurate plan of action," said Segal.

"Their voluntary climate commitments have proven fickle, with them continuing to overinvest in oil and gas and underinvest in clean climate solutions."

The appearance of the bank executives comes a week after testimony at the same committee by the CEOs of Canada's biggest oil and gas producers, which face a proposed legislated cap on emissions.

Parliamentary efforts to rein in the banking sector's indirect impact on climate are largely limited to Independent Sen. Rosa Galvez's proposed Climate-Aligned Finance Act, which remains in the Senate banking committee.

While there's disagreement on the rules and choices needed to make the energy transition happen, there was some agreement at least on the need to move faster.

"There is anxiety in the country about making this transition, and therefore Canada has to move and keep moving forward," said McKay.

"We have to accelerate that transition."

This report by The Canadian Press was first published June 13, 2024.

Companies in this story: (TSX:RY; TSX:BMO; TSX:TD; TSX:BNS; TSX:CM)

Ian Bickis, The Canadian Press