Carney HIS WORDS in 2023 recorded at the Net Zero conference AND THE etc CLIMATE CREW

His talk starts at 17:14 seconds This was held Fall of 2023. Listen to it for yourself.

So what’s GFANZ

So you think to yourself I am going to look at a few of the GFANZ shared personnel entities.

How about Carbon Tracker Initiative. As in your Carbon-Budget-Carney now.

“Our mission

We recognise that there is a limited global ‘carbon budget’ of cumulative emissions that must be respected to avoid overshooting 2˚C and destabilising the global climate. Our view is that capital markets are failing to align the capital allocation process, exposing the owners of fossil fuel companies – their shareholders – to potential lost value, as has already been witnessed in the EU utilities and US coal mining sectors. We further believe that companies have not sufficiently factored in the possibility that future demand could be significantly reduced by technological advances and changing policy.

Our role is to help markets understand and quantify these implied risks."

Emissions of greenhouse gases will need to fall severely if we are to avoid catastrophic levels of warming. Such constraints will have profound effects on the supply of and demand for fossil fuels, which account for the largest human source of greenhouse emissions.

We carry out scenario analysis to examine and understand how potential changes to supply and demand will impact the future of fossil fuel-exposed companies and projects. This analysis helps the investment community better understand the financial implications of tackling climate change;

• Our analytical research identifies the highest cost, riskiest investments enabling greater scrutiny by analysts, asset owners, investors, policy makers and financial regulators.

• Our regulatory research builds the case for reform of the financial regulatory system in order to improve transparency of climate-related financial risks and articulates the key changes to be made.

• We provide expert insight for those engaging with energy companies around future strategy and capital expenditure.

Our research is grounded in conventional financial analysis, and focuses on forward-looking material issues. As a not-for-profit research house we are free from the constraints that would be imposed by a commercial financial research business model. This allows us to challenge business-as-usual approaches that we consider to be unsustainable in the face of the unprecedented challenge posed by climate change.”

Mark Campanale

Founder & Director

Mark is the founder of the Carbon Tracker Initiative, a non-profit think tank with offices in the US and UK, having enjoyed a career in sustainable finance for 20 years. Carbon Tracker is best known for its work on ‘stranded assets’ and the ‘carbon bubble’ and providing transition analysis for the members of Climate Action 100+ These concepts are also used by the fossil fuel divestment movement; and for investors & regulators, in how to set decarbonisation pathways for the fossil fuel sector.

Prior to forming Carbon Tracker, Mark had twenty years experience in sustainable financial markets. Mark is a co-founder of some of the first responsible investment funds at Jupiter Asset Management, NPI, AMP Capital, and Henderson Global Investors. Mark has served on the World Business Council for Sustainable Development working group on capital markets leading up to the 1992 Earth Summit; was a Member of the Steering Committee of UNEP Financial Sector Initiative (1999-2003); founder of the UK Sustainable and Responsible Investment Forum (UKSIF), 1990-2006; and is now on the Advisory Board of GFANZ, the Glasgow Finance Alliance for Net Zero. A member of the advisory council of the Moore Foundation’s Conservation & Markets Initiative. He is an Advisor to Faith Invest; a Visiting Lecturer at the University of Cambridge’s sustainable finance programme; and in 2021 and winner of the CEREs/Trillum Capital Lifetime Achievement Award on Sustainable Finance.

Mark has a BA in Politics & Economic History and an M.Sc in Agricultural Economics.”

Dr Christine Chow PhD

CEO

Christine has 25+ years’ experience in investment management, research & consulting, with a focus on technology, governance and sustainability.

Her PhD thesis on responsible investment was short-listed for a United Nations award in Sweden for industry relevance and academic excellence. She is a board member of the International Corporate Governance Network (ICGN), an organization led by investors responsible for assets under management of around $US 77 trillion from over 39 countries and territories. She was appointed an honorary adviser to the Accounting and Financial Reporting Council (AFRC) Hong Kong in April 2021, and the Convenor (Chair) of the AFRC Sustainability and Climate Action Task Force (SCATF) in February 2022.

She is an Emeritus Governor of the London School of Economics (LSE), following the completion of her six-year term as a Member of Court and Investment Committee (2015-2021). She was a member in the Data Governance Task Force of the UK All Party Parliamentary Group (APPG) on Artificial Intelligence (2018 – 2021); and an Adjunct Professor in Finance at the Hong Kong University of Science and Technology (2014 – 2016), where she established the first tri-modal graduate course on social entrepreneurship and impact investing, supported by funds from family foundation and the Hong Kong government.

In 2019, She was named top 30 Inspirational Women in the City of London. In 2020, She won the Finance Monthly Women in Finance Award as the Investment Management Leader of the Year (Asia). In 2022, she won the Sustainable and ESG Investment Woman of the Year Women in Investment Award (large firms) of InvestmentWeek.

Christine is a graduate of the London School of Economics and the University of Melbourne. She completed an executive education course on financial engineering at Stanford University.

Her most recent role was Managing Director, UBS Asset Management, bringing together the global stewardship, thematic research and impact engagement teams at UBS with Credit Suisse Asset Management. Prior to joining the UBS Group, she was the global Head of Stewardship at HSBC Asset Management and a board member of HSBC Asset Management UK Limited.”

HERE IS THEIR VERSION OF ‘CLIMATE’ ALARMISM

So then I get to the planet tracker. where all human needs (food, clothing, petrol) are bad and need them to govern us out of them.

https://planet-tracker.org/programmes/food-and-land-use/ You know when we’re at can’t garden, own land, have a farm, and eating is bad and oh ya bird flu, these numbskulls are all at the end of that.

Spot the themes. All the same carbon control matrix. Carbon-tracking-Carney.

LET’S GIVE A GOOD EXAMINATION OF HIS WORDS

“for all I'm going to say that our greatest opportunity is to build a 21:21 sustainable Canadian economy accelerating the transition to Net Zero will impact every sector it'll be 21:28 Capital intensive after Decades of too little investment it'll be job heavy in 21:33 the Years where we have ai driven creative destruction of 21:39 jobs now across the world entrepreneurs innovators and businesses are 21:44 increasingly focused on the enormous value that can be created by solving an existential progam problem investment in 21:53

clean energy is exploding bringing the energy transition to an inflection point

(LL in reality there has been zero transition. AI and data centres add to the demand and there has been zero transition - See Dr. Fournier)

21:59 in recent years Global investment in solar EVS heat pumps battery storage 22:05 have all gone parabolic and investment in manufacturing capacity is surging as

(LL the government incentives in solar (disposable straw of power plants) wind- which can’t survive at all or generate reliable electricity)- heat pumps which don’t work optimally outside of a narrow temperature band… so just words)

22:10 new Supply chains are being formed around the world decarbonization is becoming a 22:18 fundamental driver of company competitiveness and as a consequence valuation premiums across sectors for

(LL: No. every bank in Canada just exited these ESG rules and Carney’s wife Diana’s beyond Net Zero just failed)

22:26 outperformers are rising sharply and those companies who move from laggards to leaders are generating 22:34 excess returns for their shareholders their employees and their 22:40 communities and at the same time stranded asset risks are rising a decade 22:46

ago I was one of those who warned that more than 50% of the world's proven reserves of oil and gas and more than 22:52 90% of the proven reserves of coal must remain in the ground if the world is to 22:58 limit temperature rises to 1 and A2 deg

(LL yes so he is the John Kerry of Canada- pfft. So what you said that Carney. so what- how do you cook your pasta - by taking a flame thrower to the air in your kitchen and wait for the heat to transfer to the water to global boil it?… oh ya you don’t understand the laws of thermodynamics or that air has no thermal volume and that it’s the sun stupid acting on matter with actual thermal mass and volume- because you can’t cook- or at least not without a cute apron)

that was a straightforward statement 23:04 of climate physics

(LL: climate physics. rolling in my seat laughing)

that was then now what's happening is the world is headed in that 23:11 direction and say that it's going to get there but if you look at projections for natural gas consumption over the course 23:18 of just four years uh the peak has gone uh from the 2040s uh to this 23:26 decade it's clear that carbon is becoming a driver not just of company 23:32 competitiveness but company

(LL sure. and everyone is buying your evs)

or sorry country competitiveness it's a creator of jobs 23:38 and growth and I'd say more generally that in the future great Powers will be 23:45 green powers and Canada should be a great 23:51 power building a sustainable economy will bring a multi-decade investment 23:57 boom after a decades long drought and

Canada estimates suggest an additional $50 billion a year of investment every year for decades and addressing climate change 24:10 will increase productivity across value chains and through Innovations

(LL 50 billion a year for the liberal party to give to their cronies. go piss up a rope)

such as 24:16 improved uh and reduced energy intensity the returns a more sustainable 24:23 and secure Energy System a more competitive economy better jobs higher growth and in all respects Canada should 24:32 lead we can be a lynchpin in

the new sustainable value chains that are being created today in virtually every 24:39 industry

(LL what new sustainable value chains? homelessness, fentanyl addiction, rising government euthanasia instead of health care. truly. what are you talking about- does new sustainable value chains mean the gutting of the middle class and the decimation of the small business? oh ok. that’s what you mean.)

we can cement our leadership and we do have leadership today in 24:45 industries of the future such as AI where access to both large scale Computing resources and Cloud that run 24:52 on clean energy and only clean energy that's the answer in AI

(LL sure give the data restriction watching us apps to queens in dresses biking for your energy. THERE IS NO clean energy. solar isn’t. wind isn’t and you fools take down damns at an infernal rate.)

are 25:00 essential we can be the go-to and nature positive supplier of critical minerals that this sustainable world 25:07 needs and given our track record we can become the clean energy superpower providing solutions from hydrogen to 25:15 Nuclear So it's time to build but how we build uh also matters 25:22 and for me it starts with taking the economic agenda and making it 25:28 everybody's Prosperity is not trickle down but it's also not top down instead 25:34 strong inclusive and sustainable growth is everything everywhere all at once we 25:41 need to build not as governments but as a people as 25:56 Canadians 26:02 so we have to start with a shared Mission a clean economy for the jobs it will provide today and the better future 26:10

it will secure tomorrow yes that does include a clean grid by 2035 for the advantages that it 26:17 will give us here at home and for the investment and jobs it will attract

(LL no one believes you except anyone who bought tickets hoping to get some of the change in your green pockets)

from 26:24 abroad and I'd suggest that to get there we should follow five 26:29 principles first the transition should involve the whole economy governments 26:36 business and finance should all have plans to turn this challenge into opportunities Capital shouldn't be 26:42 constrained by simplistic bans on financing entire Industries but be incentivized to go where the emissions 26:48 are and help get them down secondly we have a unique 26:54 opportunity to leverage our trading relationships built by successive governments from Mone creta Harper and 27:01 Trudeau these can allow Canadian businesses and workers to play Central roles in those new sustainable value 27:08 chains and it means that we can benefit from cheaper clean technologies that are 27:13 generously sometimes very generously supported by our trading partners particularly the United States we don't 27:20 need to match every subsidy and that brings me to my third 27:25 priority which is fiscal discipline it's dangerous to think that government 27:31 spending has no downside we're entering a tough new macro environment where 27:37 sound money incredible fiscal policies will be rewarded mistakes will be punished no country will be 27:45 exempt to discipline spending we should distinguish between

Investments and operating expenditures with a Golden Rule and we should assess all policies on carbon value for money 27:58 governments cannot pardon me governments cannot fund this transition alone

(LL carbon tracking your population- your money, nature the world)

the 28:03 IMF in fact estimates that if governments rely solely on subsidies transition cost could reach an 28:10 additional 50 percentage points of GDP in debt we can't replace one burden on 28:16 our grandchildren with another on our kids we need to preserve those precious 28:21 fiscal resources

(LLSo IMF estimates transiton cost could reach an additional 50 percentage points of GDP- oh great news then)

to support households who need it the most such as through targeted income support

(LL: there you have it UNIVERSAL BASIC INCOME - THE MARXIST SOLUTION TO MAKE SOCIETY DEPENDENT)

through heat 28:28 pumps for clean energy retraining for the jobs of the future and to drive jobs and growth

(LL- we are all getting jobs installing heat pumps- the most fucking ridiculous statement yet- oh… so many good Carney-Carbon-Radical-Quotes)

28:34 spending discipline must be matched by Strategic investment smart regulation and first class 28:40 execution in effect what we need to do is use limited public resources to 28:45 maximum effect to unlock private investment and we can only do that if we 28:51 hit the fourth priority

which is to build a sustainable Financial system and that will require changes at least

(LL the greens want to control all the money so you have to as they say. piss off)

as 28:58 bold as those that powered the Industrial Revolution don't worry I won't go through all of them in 29:05 excruciating acronym filled detail for those of you who want that there's the sustainable Finance uh Summit uh 29:12 tomorrow and I thank Ryan Turnal for bringing us together for that but let me just say that it's time for us to move 29:18 forward on a series of issues in sustainable Finance uh the world is um 29:24 and we don't want to be in a position where we've left it for others to decide where our companies are caught by rules 29:29 in the EU uh or California where many of our companies aren't covered so it's 29:34 unclear how we allocate Capital uh and and uh within uh Canada um and in effect 29:42 what we have in Canada is a road map and that's their term of the sustainable 29:48 Finance action uh Council uh they provided it over a year ago uh and we 29:53 have a road map we're looking for a driver of the car um and we're hoping to to find it uh tomorrow at the 29:58 sustainable uh Finance Summit um and then finally um we need uh the right uh 30:05 climate policies and we need to stick with them um as secretary Yellen and I 30:11 have shown in some research the more credible and predictable climate policies are the more that they create a 30:17 virtuous cycle uh investment in large scale faster decarbonization more jobs 30:25 faster growth and that's why the climate policy debate and there should be a debate about climate policy it's 30:31 absolutely right there's no one right answer but the climate policy rate debate should be a competition of ideas 30:38 not a denial of purpose and if someone wants to repeal a me measure they should 30:43 replace it as something more effective applied fairly across the 30:49 country so let me uh let me conclude um you know when uh in all our lives if 30:58 time to time you're faced with a fundamental challenge a major issue um and it pays I think to go back to where 31:06 you're from or at least reflect back uh on where you're from to be grounded in that place be grounded in the values uh 31:14 that come from there in order to chart the right path uh going forward um now I was born in Fort Smith uh in the 31:21 Northwest Territories and some of my Fondest Memories are uh in and around there uh would Buffalo National Park 31:28 which neighbors it and as many of you know this summer my entire Hometown and 31:34 basically all the surrounding area uh was evacuated under the threat of raging 31:40 wildfires part of a pattern of extreme weather events and weather induced disasters uh 31:47 that swept our country manifestations of the tragedy of the Horizon that I'd 31:52 warned about eight years ago uh in the atrium of Lloyds of London now people of Fort Smith they're 32:00 made of tough stuff they're back they're back in their homes after all the motto of Fort Smith is 32:05 perseverance uh but such calamities will only spread across Canada across the world if we don't act and that recalls 32:13 uh to me my second uh childhood memory which is of my father showing me uh bman 32:20 uh back in the early 1970s and back then the oil sands Mark they were a concept 32:26 uh and it was subsequently turned into an enormous commercial success by a 32:32 combination of engineering Miracles hard work of entrepreneurs the drive of entrepreneurs and companies and uh 32:39 government support a true partnership they've helped secure our energy Independence contributed to the 32:46 Americans energy Independence and the oil SS have made huge contributions to 32:51 our shared prosperity and that shared Prosperity that shared Prosperity was an 32:56 Evidence this summer as albertans welcomed to into their homes thousands of those climate evacuees from the north 33:04 and we need those same qualities today perseverance Innovation solidarity to 33:11 drive the Net Zero Revolution it's time to build it's time to build 33:22 together b b May 33:28 Aus Meri thank you very much and now I think I get grilled by Oh by great by 33:35 Braden or by Sarah thank you very [Applause]

much thank you so much Mark for that outstanding framing I'll invite you to take a seat and I will indeed call up

33:48

Sarah who we are very fortunate to have as a member of can 2020s Advisory Board and is also partner partner and

33:54

associate director of climate and sustainability at BC CG Consulting Group as well as someone who in government has

34:00

led many of these climate action and Net Zero uh transformation files over the recent decade so Sarah I'll let you up

34:06

to the stage give her a warm welcome thank you you want

34:14

to cther McKenna good to see you so Mark um you talked about living in an age of

34:22

uncertainty and a hinge moment in history we may be facing a hinge moment for Canada's National Climate plan can 34:29 you talk to me about the certainty and predictability that we need to see and 34:34 what last week's decision um your Reflections on the government's decision to to roll back a portion of the carbon 34:40 price to address you know uh something that was very real felt but we the policy had addressed affordability other 34:47 way so what's your take on that okay um so we're getting right into it okay thank you Sarah

34:52

um and let me start with this which is that no government uh no prime minister 34:59 no government uh in Canadian history has done more to address climate change and that's to your credit I know you're work 35:05 working behind the scenes and crafting that Katherine's credit uh Jonathan Wilkinson who we'll hear later this 35:12 afternoon his credit uh and all parliamentarians so so none have done more um as first I second you know 35:20 Canadians are struggling uh many Canadians are struggling uh they're struggling not because of the carbon tax 35:26 um which gets rebated they're struggling because of broad increases uh in Energy 35:31 prices and food prices uh the impact on wages the uncertainty that also is there 35:36 the lingering effects of uh of coid as well um and so there are areas where 35:43 they deserve support and we should try to provide that support uh and there are various ways to provide that support I 35:49 would have looked for other ways uh to provide that support uh than the roote 35:55 chosen uh not least because what is important is that Clarity in terms of

36:02

(LL: no the rebate on CARBON TAX doesn’t cover the attack on the economy- and ‘support’ is government handouts. basic income. Stalin dependence on the government. Carney wants to keep the inflationary carbon Tax!! that in particular attacks small businesses, middle class, and farmers- in a socialist land grab this is what you would do. Carbon Tax is a socialist land grab for the elite profiteers.)

the overall plan the overall direction uh because that certainty um helps to incentivize

36:11 uh change so you can provide support over here but keep this certainty there I think the the third thing I'd say 36:17 though is I I very much applaud what um the government did last week with 36:22 respect to helping Canadians accelerate the transition uh and uh the measures on heat pump 36:29

(LL: haha we transition our economy to heat pump installers. I guess there’s the people who milk the crickets too. or those who rat on you for ‘hate’ speech for disrupting globalist agenda)

which just to be clear as my read of it it applies across the country uh it does 36:35 depend what your local provincial government is doing to help uh uh balance that but uh below median incomes 36:41 in effect um uh heat pumps are in effect uh very low cost if not free in some 36:49 cases um and that gets to a fundamental point which is that uh for many

(LL: what TAF???? this guy thinks heat pumps is the salve to the economy- it’s probably the cure for fentanyl addiction to. what a whump)

36:55 Canadians uh they have lousy heating system uh you know using home heating 37:01 oil at one time made sense but uh it's what's been exposed over the years and I've seen this a number of times uh over 37:07 the years uh it's subject to Global Energy prices it's very volatile people are operating on very tight budgets and 37:14 all of a sudden the budgets are knocked out of whack as they have been over the last year because of the increase in 37:20 global oil prices uh first and foremost um and we need to get off that system we need to get to a system that

(LL: he has never looked at one study on the efficiency of Heat pumps over various temperatures. pfft.)

37:27 affordable that's reliable uh that's not volatile and that's sustainable and 37:32 that's what uh you know vents of uh of recent months and decision of last week hopefully will help move forward so you 37:40 talked a lot about you know we don't have endless fiscal power and that you know great powers are going to be green 37:45 powers to me that sounds like you think carbon pricing needs to be continue to be the Cornerstone of any good well I 37:51 think I think it is a Cornerstone climate policy uh you know very well it's all about the and um it's a mistake 37:58 to overly rely on carbon pricing uh just as it's a mistake and is not feasible to 38:05 only rely on uh on support we cannot buy our way to uh to Net Zero and what is 38:12 particularly powerful is to have some clear priorities um have those 38:18 priorities and those objectives set far enough in the future that you can do something about it about it but near 38:25 enough that you have to start now um and that's what getss moved and and those are the types of priorities on the 38:30 industrial side and I'm going to come back I mentioned in my remarks on on the clean grid look in business what you 38:38 want is to keep things straightforward we want to be out there in the world saying come to Canada we have a clean 38:44we've got the best workers in the world that's clear we've got the best trading relationships in the world that's also clear we trade with everyone we want to38:51 in effect uh credit to you know as I said governments from M roone uh subsequent um and uh but we should we38:58

(LL; COME TO CANADA WE HAVE A CLEAN GRID??????? HOW’S THAT WORKING OUT CARNEY. WE HAVE THE BEST WORKERS IN THE WORLD? WE TOOK them through the temporary foreign workers from the world- what is he even talking about. )

should be providing people with a clean grid because I will tell you I know from experience that businesses today as 39:05 they're moving their activities or they're thinking about their marginal Investments the first question is where 39:10 am I going to get my power from and is it going to be clean and we can answer that question in the absolute some 39:17 provinces in Canada can answer it today in the absolute it's absolutely clean the whole country should and uh and and 39:23 that's why we need to work together for that so shifting gear years this wouldn't be a Canadian climate discussion if we didn't talk about oil 39:30 um I know you talk to a lot of global oil companies um and their boards and they're clearly making a transition a 39:37 bet that transition is going to be maybe not as slow as as others might think um 39:42

(LL: malthusian climate radical comes to mind about now. I wonder if he could balance the budget with heat pumps and get the record high mortgage default fixed by heat pumps and if you’re unemployed- why aren’t you right now installing heat pumps)

what do you tell them the boards about the soundness of that bet well I think I 39:47 a couple of things one is um the uh we're going to use oil for a long period 39:53 of time we we should all recognize that um uh but the the increasingly the 39:59 hydrocarbons that are burned uh will be lowrisk from lowrisk jurisdictions check

40:04 for Canada low cost low marginal cost and they need to be low carbon as well 40:09 and um so the first question is what's your strategy for that because 40:15 uh exactly when the peak comes and exactly what the down slope uh is on use 40:22 of oil and gas certainly coal remains to be seen um what is clear is that Peak 40:28 has come in uh given the speed with which other Investments have being made and it's 40:34 come in more than a decade over the course of the last few years uh at least in the Judgment of some forecasters 40:40

(LL peak oil eh. Sure)

doesn't mean the exact forecast is right but the direction is clear so if you're competing for a market that is going is 40:47 is shrinking you better have all of those characteristics and we need to build that one of our sponsors here 40:52 today is uh Pathways is Central to building that in Mark and other so all the marks in the room have been uh 40:59 supporting that making that move um and but we need to we need to actually 41:04 implement it uh so that's the first thing the second is um to really think about in that context whether as an 41:11 energy company and different ones will have different answers look there's two there's there's three strategies that 41:17 are viable just to recap one is um I'm going to grab a increasing market share 41:23 of a of a shrinking market so I'm investing low cost low low carbon uh low 41:28 lowrisk jurisdiction the second is reinvesting the cash flows to transition 41:33 the company to be big energy um at present very few of the big oil 41:40 companies are investing anything near what's required uh in order for that 41:45 transition so they're spending basically seven eight% of their overall cash flow

41:51 on the future as opposed to uh the existing Energy System and that's for the Best in Class um and returning 50 to 41:59 60% to their shareholders which gets to the third point which is the third strategy but if you're a board or you're

42:06 a shareholder of the company should know that that is the strategy it shouldn't be a subconscious strategy if you will 42:13 which is to basically run the company down advertise the company over time return that cash flow and um I think 42:19 some of I'm not saying the Canadian ones but some of the because Canadian ones focused on strategy number one um but

42:26 some of the international ones are are in that in that position they're 42:32 basically falling into a transition trap gambling that it won't uh it won't happen as fast against the evidence 42:38 that's going in the other direction and not investing enough to be ready for it so in Canada how important are tools 42:45 like the cap and Cat policy in terms of making sure that the shareholder interest which might be looking at you

42:50

know trying to get as much money out as they can right now actually aligns with the public interest in terms of you know wanting to compete for that last barrel

42:56

and have low carbon low cost lowrisk oil in that well I think i' i' I'd put it um

43:03

I'd put it this way which is what is in the National interest and would be in the interest I mean it's in the National 43:08 interest first is which is the way you should think about we always you think about policy uh Katherine others think 43:14 about uh Sonia Savage is here thinks about policy what's in the interests the 43:19 public interest first and foremost um is to uh to get to 43:26

(LL this is Canada Carney. Storms roll in, cover solar panels (the disposable straw version of the power plant) freeze wind. the night comes in. the windless night comes in and capacity has nothing to do with it. how is it in the COUNTRY’S INTEREST TO HAVE LOW CARBON ENERGY over actual ENERGY)

uh very low emission uh scope one scope two uh hydrocarbon production um and in

43:33

Canada we have some unique uh engineering challenges and others in order to get there uh and the industry 43:38 is getting seized with those but we have to we have to deliver on those and I'd underscore that because my sense is that 43:45 what's going to happen internationally is low carbon hydrocarbons are going that that that 43:52

attribute is going to be increasingly important because of some of the commitments that are likely to happen in 43:57 the next literally in the next few weeks okay so let's talk about the next few weeks so you've been very involved in 44:03 cop this is an audience that's going to be watching what's happening there very closely so what are the big things that

44:10

you think people should be watching for and anticipating and are we going to get any real substance out of this cop yeah

44:15

well um there's an advantage to there's always advantage to advantages to having these meetings as you know uh because

44:22

debates and discussion negotiations can go on they can stretch out for but the fact that you have to show up and um you

44:28

know as Katherine knows from Paris and Beyond uh and make make decisions uh it's a forcing mechanism doesn't always

44:35

work but you know I think a couple of things could come out that could be pretty significant for Canada for the

44:40

world the first is I alluded to it on oil and gas the objective is to have as

44:45

many companies and countries sign up to the following which is zero methane near zero methane by 2030 and a doubling of scope one scope two energy

44:57

efficiency for the hydrocarbon producers Again by 2030 so those are big moves uh

45:02

if you get 50 just for a reference for this crowd that's about five gigatons of

45:08

the 50 plus gigatons of global emissions so it's 10% of global emissions at play by 2030 let's say we get half that's

45:15

that's significant it's not everything but that's 5% there's not much else you can do that gets uh that return that

45:21

quickly so that's the first thing to look for the second thing to look for is something May major on financing for the

45:27

emerging developing world and not in the in the conventional cop sense which is money from uh Advanced economy

45:35

governments uh to you know that's pledged but not delivered uh but more catalytic Capital that uh can help with

45:42

the transition uh so look for something on that uh thirdly um the hardto evate

45:48

sectors so the core of Industry you know cement steel aluminum uh transport uh

45:54

and Beyond uh there I I don't want to front run um negotiations decisions but

46:01

there is the prospect of a quite a significant demand accelerator that is

46:07

being put together with Associated financing for that so this is real substantive you know roll up your

46:13

sleeves um pulling forward hydrogen carbon capture and then the last thing and I would say this a bunch of Plumbing

46:20

stuff that no one will notice around transition plans around voluntary carbon Market things like but that matters

46:26

because it helps channel uh Capital uh around okay so one last question you

46:32

mentioned your your time in Fort Smith you grew up were born there and then you spend a good part of your life in

46:38

Edmonton um probably have some old high school friends that are still there um in rooms like this we throw around words

46:44

like Net Zero and energy transition but you really are talking about the Economic Opportunity so if you get a46:49 call from a friend in Edmonton he says like Mark like what's all this Net Zero stuff what's in it for me what is like 46:55 like what are my kids going to do why should I care like what's what does that conversation look like for you well it you know it's interesting it's a um 47:02 culture I grew up in and I do have a lot of friends at em you know emont interior BC um Calgary you know some somewh in 47:08 Calgary still cheer for the Oilers but they're in Calgary um and um one of one of them even ran an oil company actually 47:15 now I think about it uh my best friend Alex porb uh when I was growing up um 47:20 and uh who's come to Canada 2020 events look it a couple things there one is 47:26

that it's a it's a can do place first thing secondly there is a

47:33

broad engineering type culture and I don't mean that everyone goes becomes an engineer but through Nate and technical 47:40 schools and I things people are familiar with technology and and and transition in that uh respect thirdly um you know 47:47 it's people if you're my age uh you have seen that whole transformation of the energy I mean like the oil it was a 47:53 concept uh it became a reality and a huge return and there is more of a confidence around what else can be done

48:01

and then the fourth thing I would say is that look this is also one of the centers we have a few centers in Canada

48:08

of AI and other uh you know leading expertise so you have the the prospect of things moving um and what's uh what

48:15

do they get excited uh about for that um is actually building something uh

48:21

building something new and building something again and I think what's crucially important is and this I mean it's kind of odd to

48:29

even have to say it but that we acknowledge just how incredible that incredible Edmonton is 48:36 and people from Edmonton no no how incredible that province has been you Alberta has been in terms of the 48:42 contributions uh not just to Canada but to the world and because of those characteristics um how Central they'll 48:48 be to uh what we're talking about today right thanks so much thank 48:54 you 49:01 all right thank you so much Mark and Sarah for setting up uh these conversations so well today and leaving 49:07

So do you think Mark Carney is a ‘clean growth economy’ ‘climate radical’ ‘net zero nut’? Does his statement now that he would recall ‘retail’ carbon tax matter?

do these climate nutbars even envision a retail economy: or is it a grand Marxist Hell Hole.

And does it inevitably lead to austerity measures, tanking GDP, loss of investment in the economy…..

they are about a grand Marxist Hell Hole, with the elites governing us through carbon trackers and the loss of freedom.

I don’t think I like their ‘climate’ scam vision. I for one don’t trust Dictator Trudeau (tell me prorogue isn’t an insulation from accountability), or his WEF compatriot options in Carney or (Freeland).