If anyone is still not convinced that our ongoing
subsidization of fossil fuel consumption is irrational (to say the least), a
recent statistic released by the International Energy Agency (IEA) should prove
convincing.
In 2008, the world economy subsidized oil consumption to the
tune of US$557 billion in developing countries and provided as much as US$100 billion in subsidies to
oil production in developed countries. Meanwhile, the top five earning publicly traded oil companies reaped $US150
billion in profits (
ExxonMobil $US45.2 billion, Royal Dutch Shell $US31.4 billion, BP $US25.6
billion, Chevron $US29.3 billion). According to the report by the IEA, this level of subsidy, if
removed, could reduce oil consumption by 850 million tonnes (6.7 billion
barrels) by 2020- the combined consumption of Japan, South Korea, Australia and
New Zealand or 13 years of oil sands production at current rates of extraction. read more...
Leading Thinkers Give Their Views on Sustainability
While Canadian thought leaders view cutting
subsidies to dirty energy as having the most potential for greening the
economy, Americans and Europeans are far more focused on green infrastructure
investment.
This is just one of the findings of The 2010 Global Thought Leader Survey on Sustainability, a groundbreaking survey of more than 5,000 sustainability thought leaders in Canada, the U.S. and Europe. The survey was commissioned by the Pembina Institute from McAllister Opinion Research.
Thought leaders from government, academia, industry, institutions
and non-profit organizations completed the survey, which featured a core set of
sustainability-related questions plus four specialized sections: climate change,
sustainable energy, green economics and oil sands.
Paul Martin (Part 2) Natural Capital and
Environmental Indicators
The 21st Prime Minister of Canada speaks with Pembina's David Dodge
about importance of measuring natural capital: "I do not believe that a
sound environmentalist and a sound economist can differ." Martin says
it's important to develop alternative sources of energy and for Canada
to not only benefit from protecting the environment but from the
"tremendous economic opportunity" as well.
Value of Natural Capital in the Credit River Watershed
The natural capital of the Credit River Watershed near Toronto,
Ontario, provides more than $371 million in ecological services to area
residents every year. This finding is revealed in a new study by Mike
Kennedy of the Pembina Institute and Jeff Wilson of Credit Valley
Conservation.
“Natural capital is like the warehouse of nature.”
Mike Kennedy, co-author of Natural Credit
“Something not factored into modern economics are all of the services
that nature provides us for free, just by its mere existence — things
like clean water, waste processing, climate regulation, pollination and
a host of other services that are essential to human survival.”
Perhaps surprisingly wetlands provide the highest economic values in
services to the residents of the Credit Valley, contributing natural
waste treatment, climate regulation and water supply services worth
millions of dollars. The implication: remove the wetlands, lose the
services.
