Setting the record straight on the day’s top anti-oil and gas media stories
ACTIVIST CLAIM: Activist letter campaign accuses Ontario Teachers’ Pension Plan of investing in the climate crisis by keeping investments in oil and gas.
THE FACTS: The Ontario Teachers’ Pension Plan is investing in climate solutions by supporting Canadian oil and gas companies that invest in state-of-the-art emissions reduction technology.
Here are some talking points and sources to have a reasonable conversation about investing in responsible Canadian energy.
- Innovation and perseverance will help solve climate change, not moratoriums or divestment. The oil and gas industry invests the most of any other industry in the expansion of clean technology to produce reliable energy while lowering environmental impacts. Investing in Canadian oil and gas means investing in responsible energy.
- Emerging circular economy technologies hold the promise of true sustainability for oil and gas. Real zero production and consumption technologies are already beginning to take shape. Whitecap Resources currently captures and sequesters more emissions than it produces.
- Investing in Canadian oil and gas projects ensures that the global energy supply will not shift to more polluting countries, less transparent, less sensitive to societal pressures, and less committed to emissions reductions. Divesting from best in the world Canadian oil and gas is bad for the planet.
- Investment analysts are predicting a boom in returns for Canadian energy because of Canada’s high ESG ranking and sustainability. Pension funds investing in these equities can help increase revenue for their customers.
- This independent study found that divestment could cost a portfolio a 23% reduction in returns over a 50-year period. Not investing in Canadian oil and gas could have negative impacts on the pensions of Ontario teachers.
Stories that get it right
David Yager takes a dive into ESG investing and how it began with the divestment movement in universities but bellowed into the world of finance. This led to the signaling of ESG as a marketing force which allowed companies to be perceived as doing good. However, oil is back booming again and companies are back to making profits and raising money.