Flooding in Fort McMurray has raised concerns that the rising waters could breach toxic waste reservoirs in Alberta's oilsands, which could have devastating consequences for local Indigenous people and the environment. The Alberta Energy Regulator says all dams are intact and teams are monitoring the situation.
"We saw Alberta drawing a line in the sand with the (Trans Mountain) pipeline. Now there’s another line in the sand," Independent Sen. Mary Coyle said, about the Frontier mine. "And you can’t keep going with those lines in the sand."
Short-term forecasts show a good year ahead for the energy sector. But long term, Canadians are pushing for clean energy and global demand for petroleum may peak sooner than expected.
"Most Indigenous communities are engaged in resource development in one way or another", said Dale Swampy, president of the National Coalition of Chiefs.
Zurich Insurance Group's new policy comes after Canada’s regulator of financial institutions issued a statement asking all insurers to develop a low-carbon transition strategy.
A report compiled by Environment Canada shows that four fossil fuel facilities in northern Alberta produced far more carbon dioxide and other pollutants than they are required to report under international guidelines.
