Why federal green bond issuance can help build the Canadian market – Globe and Mail Op-Ed
The green bond market was growing rapidly until the pandemic hit in 2020 and its progress stalled under economic shutdowns. As the recovery unfolds, green bonds – fixed-income securities used to finance sustainable projects – appear poised to resume their trajectory, in Canada and abroad. But should the federal (and provincial) governments get into the action with their own green bond issues?
In a recent C.D. Howe Institute paper, I argue there are many good reasons for Ottawa to issue its own green bonds; chief among them is the setting of a benchmark price that can help build overall market capacity in Canada. The other key question is how the federal government can best play a role.
These bonds instruments,…
The Next Green Bond Wave: Should Ottawa Step In?
Canada’s Green Bond Market Poised to Surge Canada’s green bond market is poised to regain momentum as the economy recovers from COVID, according to a new report by Glen Hodgson. Green bond issues were surging prior to the pandemic, with US$257.7 billion issued globally in 2019 and C$9.25 billion in Canada. Hodgson notes Canada has […] Glen Hodgson on Energi Media – Canada’s green bond market set to surge
Glen Hodgson, Senior Fellow at the C.D. Howe Institute, discusses the changes needed for green bonds to play a bigger role in financing Canada’s energy transition.
Duty to Protect: Corporate Directors and Climate-Related Financial Risk
Climate Risk Reporting Needs Clarity to Succeed Amid growing calls from regulators, financial standard organizations and institutional investors, Canadian corporations face pressure to adopt transparent climate-risk reporting. But first, they need greater clarity on the metrics and standards involved. Author Janis Sarra recommends that Canada clarify and adopt mandatory uniform reporting on climate metrics and […] Je Préfère Les Tulipes Aux Bitcoins – La Presse Opinion
Comme les tulipes au XVIIe siècle, les bitcoins sont emportés par une bulle, ce qui montre bien que la fièvre des spéculateurs est récurrente. Les tulipes mènent aujourd’hui une existence bien terre-à-terre, contentes d’être jolies et d’annoncer le printemps. Je cherche encore l’utilité des bitcoins.
En 1637, les marchands néerlandais payaient des prix fous pour les bulbes de cette fleur exotique, importée de l’Empire ottoman, particulièrement la rare variété à motif tigré. Première crise spéculative documentée, la « tulipomanie » a brûlé des fortunes factices.
On n’aura pas davantage à pleurer l’éventuelle déconfiture des « baleines », le surnom donné aux gros détenteurs de bitcoins, qui ne sont…
To beat money laundering, check ID – Financial Post Op-Ed
On Nov. 30, the B.C. government launched the world’s first publicly accessible registry of beneficial ownership of land, requiring disclosure of the people behind the companies, trusts and partnerships that own B.C. property (and who therefore benefit from such ownership). For implementing this new weapon to combat money laundering, the B.C. government deserves praise and thanks.
Unfortunately, in its present condition, the registry will do little to deter the world’s criminals from laundering their dirty money in B.C. real estate. That’s because it’s missing the most important element — verification of the identity of the beneficial owners listed on the registry. To understand why “verification of identity” is essential to the…
Climbing Out of COVID
New C.D. Howe Institute Book Chronicles COVID-19 Policy Insights A new book from the C.D. Howe Institute provides an overview of the Institute’s critical policy recommendations made in response to the developing COVID-19 pandemic. “Climbing Out of COVID” compiles communiqués from the Institute’s Crisis Working Groups, as well as Intelligence Memos and op-eds, published up […] BC’s Public Registry to Combat Money Laundering: Broken on Arrival
Money Launderers Will Easily Dodge Detection under New BC Public Land Registry British Columbia’s new public land registry has significant flaws that greatly undermine its ability to help investigators detect money laundering in BC real estate. In “BC’s Public Registry to Combat Money Laundering: Broken on Arrival” Kevin Comeau lays out the changes that should be […] Koeppl, Kronick – An Open Banking Playbook
From: Thorsten Koeppl and Jeremy M. Kronick To: Chrystia Freeland, Minister of Finance Date: September 25, 2020 Re: An Open Banking Playbook Open banking may not seem like a pressing matter in the middle of a global pandemic, but it is exactly the type of productivity-enhancing file that can stimulate the economic recovery. Every time a person or business […] Open Banking in Canada – The Path to Implementation
Open Banking Holds Promise, Risks for Consumers The path towards safe and secure implementation of open banking should be guided by three consumer-focused pillars: generating value for consumers, building secure infrastructure for data sharing, and improving the regulatory framework to protect consumers. Authors Thorsten V. Koeppl and Jeremy Kronick lay out a roadmap to guide […] Joanne De Laurentiis – The Case For Speedy Reform Of The Self-regulatory Organizations Function
From: Joanne De Laurentiis To: Canadian Securities Administrators Date: July 28, 2020 Re: The Case for Speedy Reform of the Self-Regulatory Organizations Function The case for streamlining the stratified, overlapping regulatory bodies overseeing the operations of dealers and advisors providing financial advice to consumers has been proven and accepted by regulators. In their recent request […] Investir Notre épargne En Accord Avec L’urgence Climatique – La Presse Opinion
Nos choix de placements peuvent accélérer les changements exigés par l’urgence climatique. Heureusement, les institutions financières développent des produits plus amicaux pour la planète. La finance durable s’impose comme nouvelle norme.
Les entreprises qui composent les grands indices boursiers génèrent des gaz à effet de serre (GES) cadrant avec un réchauffement climatique de 3,5 à 5 degrés. L’indice du marché canadien TSX60, où le secteur pétrolier est fortement représenté, correspond à un scénario de 4,6 degrés, estime Mirova, filiale de la banque d’investissement Natixis.
Que faire alors ? Le réflexe de larguer les actions des pétrolières réussit davantage à nous donner bonne conscience qu’à réduire les GES.…