Canada Pension Plan Investments has dropped a net-zero by 2050 target for carbon emissions, according to an annual report released on Wednesday, following several Canadian financial institutions that have backtracked on climate commitments.
Several major Canadian banks, including BMO, TD Bank and CIBC, have also backtracked on climate commitments this year, announcing they were leaving a Net-Zero Banking Alliance backed by the United Nations.
China is building >30 new reactors, as many as all other countries combined, because coal is more suited to metallurgical applications than electrical production. Canada should be doing the same, build a baseload of nuclear and hydro with variable demands covered by renewables. If you want to pick a fossil fuel boogieman look at the US, Russia, and the middle east.