Tausi Insider

The processing facility at the Suncor oil sands operations near Fort McMurray, Alta., on Sept. 17, 2014. Todd Korol/Reuters Not that many years ago, the idea of showcasing the Canadian oil sands at an international summit on climate change would have been laughable. It is just three years since green energy think tank the Pembina Institute declared the oil sands as on a “collision course” with this country’s climate goals, and fewer than six years since Prime Minister Justin Trudeau sparked fury in Alberta by commenting in a public forum that the province’s oil sands industry needs to be “phased out” as part of Canada’s transition off fossil fuels. So the fact that representatives of the Pathways Alliance – a consortium of Canada’s largest oil sands companies – not only attended the United Nations’ COP27 climate conference in Egypt this week but made a presentation Friday in the federal-government-hosted Canada Pavilion shows just how far the industry has come in terms of its willing...

Stacked containers as ships unload their cargo at the Port of Los Angeles, on Nov. 22, 2021. MIKE BLAKE/Reuters Glen Calder expected a shipment of gearbox reducers needed to build a particular model of his company’s paving machines last week. But when he called on Thursday to check the status of the order, he learned the shipment – coming from Italy – is now delayed three months. “No explanation, no excuse, no nothing,” fumed Mr. Calder, vice president of operations for Calder Brothers Corp., an 80-employee manufacturer in Taylors, South Carolina. Mr. Calder said his factory was already cutting steel for the machines that require the Italian parts and would now have to scramble to produce something else. Orders for those machines, already delayed, will go unfilled for now. Supply chain problems dogged producers like Mr. Calder through the pandemic. At the peak of the crisis a year ago, manufacturers faced shortages of everything from steel and aluminum to computer chips and plastic r...

JPMorgan JPM-N said on Thursday it had set targets to cut emissions tied to its finance and deal making in the iron and steel, cement and aviation sectors, as those emissions linked to oil and gas usage rose. As the largest U.S. bank and major funder to the fossil fuel industry, investors and campaigners keenly watch JPMorgan’s climate efforts as the world shifts to a low-carbon economy. After releasing targets for oil and gas, electric power and autos in 2021, the new sector targets mean the bank now has plans to reduce emissions from all of the sectors most responsible for climate-damaging carbon emissions. For iron and steel, the bank said it aims to cut emissions per tonne of crude steel produced by 31 per cent by 2030. For cement it is targeting a 29 per cent cut and for aviation a cut of 36 per cent. The bank said all the targets were in line with the International Energy Agency’s Net Zero Emissions (NZE) scenario. Lucie Pinson, director of non-profit Reclaim Finance, welcomed ...