Open letter from CEOs of Oil and Gas Climate Initiative on COVID

"The Covid-19 crisis is further crystallizing our focus on what is essential: health, safety and protection of the environment," said the letter

Open letter from CEOs of Oil and Gas Climate Initiative on COVIDThe CEOs of the Oil and Gas Climate Initiative, representing major corporations around the world, have issued an open letter on concerns they have heard that the COVID-19 crisis may push oil and gas companies - and governments around the world - to delay climate action. "The reality is that rather than shifting our priorities,…

COVID-19 risks cancelling out recent progress in transition to clean energy

For Canada, the challenges lie in balancing energy transition with economic growth given the role of energy sector in its economy

COVID-19 risks cancelling out recent progress in transition to clean energyThe coronavirus pandemic risks cancelling out recent progress in transitioning to clean energy, with unprecedented falls in demand, price volatility and pressure to quickly mitigate socioeconomic costs placing the near-term trajectory of the transition in doubt, says the World Economic Forum. The Forum’s latest report, Fostering Effective Energy Transition 2020, said policies, roadmaps and governance…

World’s largest wealth fund blacklists four Canadian oil and gas companies

Between 2006 and 2016, the oil and gas extraction sector in Canada spent significantly more than any other industry on environmental protection

World’s largest wealth fund blacklists four Canadian oil and gas companiesNorway's central bank, Norges Bank, has decided to exclude four Canadian oil and gas companies from the Government Pension Fund Global, the world's largest wealth fund. "Norges Bank’s Executive Board has decided to exclude the companies Canadian Natural Resources Limited, Cenovus Energy Inc, Suncor Energy Inc, and Imperial Oil Limited after an assessment that acts or omissions…

Enbridge sees $1.43 billion loss attributable to common shareholders in Q1

After a comprehensive review of its operating expenditures, the company plans to reduce 2020 costs by approximately $300 million

Enbridge sees $1.43 billion loss attributable to common shareholders in Q1Enbridge announced Thursday it had adjusted earnings of $1.668 billion or $0.83 per common share for the first quarter of 2020, compared with $1.640 billion or $0.81 per common share in 2019. But it had a loss of about $1.43 billion attributable to common shareholders compared with $1.9 billion in earnings a year ago. "Our responsibility to deliver energy safely and…