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We are thrilled to announce the addition of Nicholas Daube to the Resilient LLP Team. Nick comes to us from a position of depth and breadth in both climate and finance related public policy and law, after several action-packed years in private practice and the offices of the Ontario premier, as well as provincial and federal government ministers (finance, environment, and the Attorney General).  Nick is leading up Resilient LLP’s services in and around all things hydrogen and adding to our breadth in all things climate change, energy transition and Indigenous resurgence.  Please join us in welcoming Nick to the Resilient Team!

Planetary Technologies (Planetary) today announced that it was awarded the $1M XPRIZE Carbon Removal Milestone Award. Planetary won the award for its accelerated carbon transition platform and will use the award to achieve a full-scale demonstration of its technology. The award is part of the $100M XPRIZE Carbon Removal Challenge, a four-year global competition funded by Elon Musk and the Musk Foundation.   Planetary’s award winning technology permanently stores carbon by purifying mine waste into a mild, nontoxic antacid which is then released into the ocean, restoring the ocean’s pH levels and accelerating the ocean’s absorption of CO2 from the atmosphere. Resilient LLP congratulates Planetary on this historic milestone!   For further information or to discuss the contents of this bulletin, please contact Lisa DeMarco at lisa@resilientllp.com.

The Ontario Ministry of the Environment, Conservation and Parks (the Ministry) has posted a bulletin (the Bulletin) providing principles to guide policy development and future consultations for Ontario’s Emissions Performance Standards (EPS) program to meet the updated federal benchmark for 2023-2030 (read our earlier bulletins on the EPS here and here). The Ministry also released new modelling demonstrating how Ontario is forecasted to meet its GHG  emission reduction target of 30% below 2005 levels. This bulletin briefly summarizes key information in the Bulletin and the emissions scenario modelling. Proposed Principles. The Bulletin notes that the federal government, in its Update to the Pan-Canadian Approach to Carbon Pollution Pricing 2023-2030, set out new and more stringent benchmark requirements ($65/tCO2e in 2023, rising $15/year to $170 in 2030) that all carbon pricing systems, including the EPS program, must meet under the Greenhouse Gas Pollution Pricing Act. To meet the more stringent benchmark, the Ministry is proposing to design the next phase of the EPS program using the following guiding principles: provide continuity and predictability for Ontario businesses; incent GHG emissions reductions, which will help Ontario to meet its target to reduce GHG emissions by 30% below 2005 levels by 2030; minimize the risk for carbon leakage (the risk of production leaving the province for other jurisdictions with less stringent climate policies), taking into account competitiveness impacts to Ontario industry; ensure the program continues to be fair, cost-effective, and flexible to the needs and circumstances of Ontario; and minimize regulatory burden. Emissions Reduction Modelling. New modelling released as part of the Bulletin provides updated forecasting of provincial emissions out to 2030. The modelling shows that Ontario’s emissions are forecasted to be 143.7 MT CO2e in 2030, slightly lower than Ontario’s 144 MT target for 2030. The Ministry notes, and as shown in the graph…

Deputy Prime Minister and Minister of Finance Chrystia Freeland yesterday released Budget 2022: A Plan to Grow Our Economy and Make Life More Affordable (Budget 2022). This bulletin outlines key climate, energy, and Indigenous highlights from Budget 2022, part of total new spending of $31.2B, which includes: A proposal to establish the Canada Growth Fund (initial investment of $15B over five years), directly targeted at reducing emissions and enabling the transition to a low-carbon economy. Confirmation of the government’s intention to establish a refundable investment tax credit for carbon capture, utilization and storage (CCUS) projects to the extent that they permanently store captured CO2 through an eligible use. Plans to engage with experts on establishing an investment tax credit of up to 30 per cent, focused on net-zero technologies, battery storage solutions, and clean hydrogen. Support for the co-development of an Indigenous Climate Leadership Agenda to support self-determined action in addressing Indigenous Peoples’ climate priorities. Climate Budget 2022 includes new and proposed funding supporting important climate action, as follows: Canada Growth Fund. Budget 2022 proposes establishing the Canada Growth Fund, with an initial $15B investment over the next five years and the aim of attracting substantial private sector investment supporting the following economic policy goals: reduce emissions and contribute to achieving Canada’s climate goals; diversify the economy and bolster exports by investing in the growth of low-carbon industries and new technologies across new and traditional sectors of Canada’s industrial base; and support the restructuring of critical supply chains in areas important to Canada’s future prosperity—including our natural resources sector. Clean technology. Budget 2022 proposes the following new clean technology funding and investments: engage with experts to establish an investment tax credit of up to 30 per cent, focused on net-zero technologies, battery storage solutions, and clean hydrogen; provide $2.2B over…

The Intergovernmental Panel on Climate Change has released its final installment of the Sixth Assessment Report, Working Group III’s report on the global assessment of climate change mitigation progress and pledges “Climate Change 2022: Mitigation of Climate Change” (the Report). It also released an accompanying Summary for Policymakers and Technical Summary. The Report considers and documents the scientific, technological, environmental, economic, and social aspects of mitigation of climate change and notes the growing role of non-state and sub-national actors including cities, businesses, Indigenous Peoples, citizens, transnational initiatives, and public-private entities in addressing the impacts and causes of climate change. The Report has been highly anticipated and is the first mitigation report that the IPCC has published since 2014. It provides an unprecedented level of scientific analysis on the options to mitigate climate change, including a significant focus on carbon dioxide removals and the costs of emissions reductions. This bulletin briefly highlights key findings of the Report. Recent developments and current trends. The Report notes that: Total greenhouse (GHG) emissions continued to rise during the period 2010–2019, largely attributed to urban areas, and that the average annual GHG emissions during 2010–2019 were higher than in any previous decade. Reduced emissions from industrial processes and fossil fuels have been more than offset by increased emissions from rising global activity levels in industry, energy supply, transport, agriculture, and buildings. Global GHG emissions in 2030 associated with the implementation of nationally determined contributions (NDCs) announced prior to COP26 make it likely that warming will exceed 1.5°C during this century. Policy, cost, deployment of low-emission technologies and finance. The Report notes that: The cost of low-emission technologies such as photovoltaics, onshore and offshore wind, concentrating solar power, and batteries for passenger electric vehicles (EVs) has continued to decrease since 2010, as demonstrated by an over…