• In previous work, we found that Canada needs to spend at least $60-80 billion each year to reach Net Zero by 2050.
• Though Canadian green spending has hit consecutive records in the last two years, it remains well behind other nations. As a share of the economy, our spending is a third of China’s and half of Europe’s.
• That gap will potentially widen as the U.S. Inflation Reduction Act pumps US$370 billion into clean investment.
• To keep pace (and hit our own targets), Canada will need to significantly boost spending on electric vehicles, heat pumps and carbon capture facilities, among other technologies.
• The bottom line: Policy has a role to play in accelerating investment. The U.S. offers a good example of this, particularly when it comes to electric vehicles and building decarbonization.
https://thoughtleadership.rbc.com/proof-point-canada-still-isnt-spending-enough-on-the-green-economy/
Climate Change and the Green Economy - Canada - October 2022.pptx
1. P A U L Y O U N G C P A C G A
O C T O B E R 4 , 2 0 2 2
MITIGATION THE IMPACT OF CLIMATE CHANGE WHILE GROWING THE
GREEN AND CIRCULAR ECONOMY IN A SUSTAINABLE WAY
2. Paul Young - Bio
• CPA, CGA (1996)
• Academia (PF1, FA4, FN2, MU1. and MS2)
• SME – Customer Success Management
• SME – Risk Management
• SME – Close, Consolidate and Reporting
• SME – Public Policy
• SME – Emerging Technology
• SME – Business Process Change
• SME – Financial Solutions
• SME – Macro/Micro Indicators
• SME – Supply Chain Management
• SME – Data, AI, Security, and Platform
• SME – Internal Controls and Auditing
Contact information email: Paul_Young_CGA@hotmail.com
LinkedIn: https://www.linkedin.com/in/paul-young-055632b/
SlideShare - https://www.slideshare.net/paulyoungcga
Twitter: https://twitter.com/paulyoungcpa
YouTube - https://www.youtube.com/user/youngercga1968/videos
3. Agenda
• Global GDP Forecast
• Critical Metals
• GDP vs Clean Technology GDP – Canada
• Global Emissions
• Forest Management
• What is a Circular Economy?
• Top Ranking Sustainable Economies
• Canada Economy
• Canada Environmental
• Plastics GDP importance
• Taxation and Environment
• Cost to Serve Model
• Mitigation of Climate Change
• Forest and Wildfires
• Water Management
• Hurricanes
• Cruise Ships
• Budget 2022 / Canada
• Urban vs Rural Planning
• Fear of Green Inflation
• What’s Next?
8. Power Generation
TD Bank - Clean
Energy - Supply Chain.pdf
Canada generates over 80% of its electricity from clean sources.
Canada generates about 11% of its power needs from Natural Gas. Canada’s clean electrical grid is one the best in the G20.
Upgrading the world power grid will cost billions
Raw material costs continue to plague the green energy sector.
11. Countries leading the charge for the Circular
Economy
Source - https://www.construcia.com/en/noticias/which-countries-are-leading-the-change-in-circular-
economy/
• The Netherlands
• France
• Italy
• Germany
• Luxembourg
• Belgium
• Portugal
• Spain
15. Emissions per square KM
https://policyoptions.irpp.org/magazines/february-2022/embracing-the-unknown-cost-of-climate-
change/
Canada is a carbon sink! https://financialpost.com/diane-francis/diane-francis-canada-is-a-giant-
carbon-sink-why-are-we-not-getting-credit-for-it or https://policyoptions.irpp.org/magazines/june-
2018/canadas-carbon-sinks-dont-mean-we-can-ease-off-on-climate-policy/ or
https://biv.com/article/2020/08/bc-carbon-tax-ineffective-ceri
17. Blog – Forestry
Movement towards sustainable forests - https://www.forestryforthefuture.ca/posts/sustainable-forest-
management-will-help-drive-our-net-zero-future. Canada forest practices need to improve as part of mitigating
the changes to climate.
Canada has 9% of the total forest - https://www.ccfm.org/healthy-forests/vast-and-abundant-forests/
Russia is looking at their forest management practices as part of their carbon footprint -
https://www.bnnbloomberg.ca/russia-wants-to-use-a-forest-bigger-than-india-to-offset-carbon-1.1580883. Russia
has 20% of the forest. If you combine Canada with Russia, then 1/3 of the earth forest come from Canada and
Russia.
New research, published in Nature Climate Change and available on Global Forest Watch, found that the world’s
forests sequestered about twice as much carbon dioxide as they emitted between 2001 and 2019. In other words,
forests provide a "carbon sink" that absorbs a net 7.6 billion metric tons of CO2 per year, 1.5 times more carbon
than the United States emits annually.
https://www.greenbiz.com/article/new-data-allows-scientists-accurately-measure-carbon-flux-forests
Companies are revisiting their sawmills investments - https://www.woodbusiness.ca/maximizing-potential-
industry-veteran-leads-the-charge-to-upgrade-ontario-mill/
18. Drones and Forest Management
Iris Automation The
Best Forestry Drones for Forest Management.pdf
20. Recycling / Countries
Source - https://www.energydigital.com/smart-energy/which-countries-are-best-recycling or
https://www.greencitytimes.com/recycling-global-report-card/
22. Material Footprint
Source - https://www.cpacanada.ca/en/news/pivot-magazine/2020-03-10-canada-recycling-system or OECD
23. Canada Economy
• Zero Waste footprint - https://www.bnnbloomberg.ca/businesses-aim-to-reduce-waste-in-2020-as-consumers-
become-more-eco-conscious-1.1372149
• Energy from Waste - https://www.grandviewresearch.com/industry-analysis/waste-to-energy-technology-industry
• December 2020 and November 2020 Scorecard - https://www.slideshare.net/paulyoungcga/scorecard-and-gdp-
canada-december-2020-and-november-2020
• Canada Scorecard https://www.slideshare.net/paulyoungcga/key-macro-and-micro-indicators-for-canada-
december-2020-and-january-2021
• Canada Scorecard - https://www.slideshare.net/paulyoungcga/key-macro-and-micro-indicators-canada-april-2021-
and-march-201
• Canada Scorecard - https://www.slideshare.net/paulyoungcga/canada-economic-and-fiscal-scorecard-april-2021-
and-may-2021
O&G GDP continues to expand.
Hiking the carbon tax is great for a sluggish economy.
Real Estate prices have exploded across the world.
The green economy isn't sustainable without more direct govt subsidies.
https://www.slideshare.net/paulyoungcga/gdp-analysis-and-commentary-canadajanuary-2021
24. Bank of Canada / Monetary Policies
• There are issues with GDP: a) Productivity b) FDI
outflow c) Lack of innovation d) Higher Commodities e)
government deficits and taxes
• About 40% of the job vacancies are with jobs that pay
less than the average wage
• Size of household debt continues to be an issue
• Lack of affordable housing options
• Global Trade and protectionism
Source - https://www.slideshare.net/paulyoungcga/bmo-7-
reasons-to-be-exciting-about-the-canadian-economy
My concerns with the BOC saying inflation dropping from 5.3% in 2022 to 2018 is not realistic and here is why:
• Liberals plan hikes to carbon tax - https://nationalpost.com/news/politics/federal-carbon-tax-to-increase-to-170-per-tonne-
by-2030-as-liberals-unveil-new-climate-plan
• Critical metals have risk due to supply and refinement capacity issues. https://oilprice.com/Latest-Energy-News/World-
News/America-Desperately-Needs-To-Scale-Up-Battery-Metal-Production.html
• Huge capital needs to be spent on areas like the electrical grid and plug-in stations (electrical vehicle adoption)
• Housing issues will continue to plague the cost of housing – https://www.slideshare.net/paulyoungcga/housing-and-
homelessness-canada-and-the-world-budget-2022-pptx
• Automation will also play a key role with organizations managing their costs -
https://www.slideshare.net/paulyoungcga/what-is-next-for-automation
My work - https://www.slideshare.net/paulyoungcga/preliminary-cost-of-living-canada-february-2022pptx
25. Plastics and GDP
• The petrochemical sector is very important to economies of Alberta, Ontario and other provinces -
https://www.kallanishenergy.com/2020/07/13/alberta-seeks-to-boost-petrochemical-industry/
• Plastics play a vital role with many parts of the economy including medical equipment and supplies -
https://pvcmed.org/healthcare/when-plastics-revolutionised-healthcare/
• Government needs to put more focus on reshoring parts of the supply chain -
https://www.slideshare.net/paulyoungcga/tranformation-of-supply-chains
• Hospitality sector is already struggling with current restrictions -
https://www.slideshare.net/paulyoungcga/analysis-of-the-hospitality-sector
27. Taxation and Environment
In 2018, Canadian businesses spent $9.7 billion to reduce impacts on the environment, up 15%
from 2016. In Canada, 9 out of 10 businesses invested in at least one environmental protection activity.
Source - https://www150.statcan.gc.ca/n1/daily-quotidien/210126/dq210126b-eng.htm
Emissions are expected to rebound in 2021 - https://www.iea.org/data-and-statistics/charts/projected-
global-change-in-co2-emissions-2020-and-2021
China is implementing a cap and trade system - https://www.straitstimes.com/asia/east-asia/china-to-
launch-carbon-emissions-trading-scheme-next-month - China has 250+ coal-fired plants under construction -
https://www.reuters.com/article/china-coal-idUSL4N2E20HS
Challenges for 2021 - https://boereport.com/2020/12/31/energy-in-2021-the-challenges-of-the-coming-year/
COVID19 - https://www.nature.com/articles/d41586-021-00090-3
My work - https://www.slideshare.net/paulyoungcga/protecting-the-environment-and-climate-change-taxes-and-spending-canada
28. Carbon Taxation / PBO Yet the PBO said that is not the case, right!
https://www.pbo-
dpb.gc.ca/en/blog/news/RP-2122-032-S--
distributional-analysis-federal-carbon-
pricing-under-healthy-environment-healthy-
economy--une-analyse-distributive-
tarification-federale-carbone-dans-cadre-
plan-un-environnement-sain-une-eco
@Twitter
Guilbeault is deliberately misleading
Canadians with this tweet!
29. Cruise Ships and Emissions
Did you charge them the carbon tax?
https://www.cbc.ca/radio/asithappens/as-
it-happens-wednesday-edition-
1.4277147/a-cruise-ship-s-emissions-are-
the-same-as-1-million-cars-report-
1.4277180
https://www.slideshare.net/paulyoungcga
/mitigation-the-impact-of-climate-
change-while-growing-the-green-and-
circular-economy-in-a-sustainable-way-
pptx
30. Canada Federal Budget 2022 / Environment
The rent-own program is a bad program
The super clusters are a bad program
LPC killed a bill banning sewage
dumping. Now you want to protect water
ways.
Productivity & high inflation were not
addressed
https://www.slideshare.net/paulyoungcga/
budget-2022-path-forward-for-canada-
pptx
31. Cost to Serve Model
• Companies will include any additional costs as part of their end pricing to consumers -
https://www150.statcan.gc.ca/n1/daily-quotidien/181214/dq181214d-eng.htm
• Government is planning more hikes to carbon tax along with adding a new tax for the fuel standard. Any
additional costs will be pushed on to consumers through higher prices - https://www.newswire.ca/news-
releases/clean-fuels-standard-will-increase-household-costs-for-canadians-capp-819531042.html
• Food costs have been rising over the past few years - https://farmworktofeedcanada.ca/food-prices-projected-
to-rise-in-coming-months/
• Liberals ran on a platform to make things more affordable -
https://www.slideshare.net/paulyoungcga/justin-trudeau-and-liberals-have-liberal-policies-made-things-
more-affordable-for-canadians
32. How to mitigate the impact of Climate
Change
Blog – How to Mitigate issues with Climate Change.
Here is my work on climate change including the threats to both the private and public sectors.
https://www.slideshare.net/paulyoungcga/how-to-mitigate-the-threats-of-climate-change
33. Increase monitoring through Industry 4.0
All levels of government need to look at better monitoring of their various geographies through
deployment of solutions like Maximo - https://ibm.box.com/s/ow662tdpto1c1p6d9u2waqxwli40x0la
Increase monitoring should be part of any risk management policies and procedures, especially as data
from monitoring tools can be integrated into solutions like Cognos Analytics and Planning Analytics
34. Working with Weather Analytics and Services
Climate change is here to stay. How everyone adjusts to climate change will be critical in terms of
safeguarding assets through proper risk mitigation.
Both the private and public sectors need to embrace weather analytics and services into its operations -
https://ibm.box.com/s/p9yzecfcp956l2d7jh25uflo3q8uof6j
35. Government Policies and Climate Change
There seems to be a battle brewing between various states when it comes to climate change reporting.
https://www.linkedin.com/pulse/what-next-climate-change-reporting-united-states-paul-young/?published=t
I believe that there should be standardized reporting of ESG to provide better info in areas like governance,
environment, and social.
36. Forest and Wildfires
Climate change is raising average global temperatures, bringing with it longer droughts, with cascading effects for
forests and wildfires. These impacts are highly place-dependent — they are determined by the ecology an
ecosystem and its history of disturbance, like wildfires, insect outbreaks or logging.
Blog – Wildfires and Climate Change – How to mitigate the impact of Wild and Forest Fires -
https://www.linkedin.com/pulse/blog-wildfires-climate-change-how-mitigate-impact-wild-paul-young/?published=t
38. Water Management
• Water is a major issue around the globe due to many factors like population growth, food supply, weather
patterns, access to clean drinking water, sewage dumping into waterway, garbage into waterway, etc.
• Desalination plants continue to be more environmentally friendly as part of addressing water demands in
arid land around the world
• More innovation in terms of mini-water treatment plants for remote communities.
• Stiffer environmental laws as pertains to water ways
• The need for better flood mitigation
Here is my work:
I have called out the management of waterways along with poor urban planning for years. If the government was
so concerned about climate change, then why are they failing to mitigate the impact of ice melt or rain on river
systems? https://www.slideshare.net/paulyoungcga/water-management-and-flood-mitigation
39. Urban Planning
The problem from the get-go has been with proper urban planning including rural vs urban strategy!
It is time for all levels government to look at innovator solutions when it comes to building affordable housing
https://www.slideshare.net/paulyoungcga/urban-and-rural-planning-whats-next
1. Building codes need to revamp to deal with 3-D housing -
https://www.forbes.com/sites/pikeresearch/2019/11/20/3d-printed-homes-quietly-gain-
traction/#74899cc763bd
2. All levels government need to look at proper land management -
https://www.slideshare.net/paulyoungcga/why-do-politicians-play-games-with-the-environment
40. ESG Reporting
There seems to be a battle brewing between various states when it comes to climate change reporting.
https://www.linkedin.com/pulse/what-next-climate-change-reporting-united-states-paul-young/?published=t
I believe that there should be standardized reporting of ESG to provide better info in areas like governance,
environment, and social. https://ibm.box.com/s/vmyitcackqevvm1hcxv7wke6gudrpnce
41. Insurance
Global insured losses from natural catastrophes surged in the first half of 2021 to $42 billion, the second-highest amount
since 2011.
The preliminary estimate from Zurich-based reinsurer Swiss Re attributed the high loss total to winter storms, intense
heatwaves, and severe flooding across the world.
The insured loss total exceeded the previous ten-year average (2011-2020) of $33 billion. It was second only to the losses in
the first half of 2011, when the Great East Japan earthquake and tsunami and the Christchurch, New Zealand earthquake
pushed the six-month total to $104 billion.
A big contributor in the first half of 2021 was February’s winter storm Uri, a period of extreme cold combined with heavy
snowfall and ice accumulation in the United States. The event took the lives of 164 people, 151 of those in Texas, and
triggered estimated insured losses of $15 billion.
https://www.cfo.com/risk-management/2021/08/weather-catastrophes-drive-near-record-insured-losses/
Here are additional links:
New Insurance reporting standard - https://ibm.box.com/s/mgtzq1mp1h4dxk5ei4ov1tr7dgoyn76e
Risk Mitigation - https://www.slideshare.net/paulyoungcga/how-to-mitigate-geopolitical-risks-as-part-of-safeguarding-your-assets-
249988353
42. Green Inflation
https://www.blacklocks.ca/carbon-tax-to-slow-growth/
Any time that you add taxes like carbon tax along more environmental regulations there is a cost. This cost is pushed on to
consumers through higher prices. The era of 1.5% to 2.2% inflation is over. The new reality is inflation will range between 3.0%
to 4.5% as part of the new green agenda. The world is combatting climate change through the wrong policies. There are better
approaches to protecting the environmental while growing an economy.
https://www.slideshare.net/paulyoungcga/how-growing-the-circular-and-green-economies-can-mitigate-the-issues-with-climate-
change
https://globalnews.ca/news/8508541/canada-green-transition-inflation/
43. What’s next?
• All levels of government need to look at all their regulations as part ensuring the environment is protected as well
as supporting GDP growth - https://www.slideshare.net/paulyoungcga/climate-change-environment-analysis-and-
commentary
• Innovations / Plastics Management - https://www.canadianmanufacturing.com/features/canadian-manufacturers-
stand-to-benefit-from-in-house-plastic-shredders/
• Countries around the world need to clean up their recycling practices -
https://www.lovemoney.com/gallerylist/89902/recycling-countries-best-worst
• Carbon taxes are not the answer - https://www.slideshare.net/paulyoungcga/the-real-truth-about-emissions-and-
carbon-taxation
• All levels of government need to work together as part of ensuring businesses in Canada are competitive with their
counterparts around the world - https://www.slideshare.net/paulyoungcga/how-to-fix-competitiveness-through-
government-policy
• GDP is at risk if countries around the world continue to push their progressive agenda -
https://www.slideshare.net/paulyoungcga/what-is-next-for-the-global-economy-september-2020
• Innovation should be part of any waste management policy change including approving projects that are waste to
energy - https://www.prnewswire.com/news-releases/global-54-8-bn-waste-to-energy-market-size-share--trends-
analysis-2016-2019--2020-2027--301132220.html
• Tax code change (equipment write-down)
• Environmental approval
Blog – Climate Change and the Green Economy – Canada – October 2022
forecast_20220912-2
.pdf
Proof Point Canada
still isn't spending enough on the green economy.pdf
In previous work, we found that Canada needs to spend at least $60-80 billion each year to
reach Net Zero by 2050.
Though Canadian green spending has hit consecutive records in the last two years, it remains
well behind other nations. As a share of the economy, our spending is a third of China’s and half
of Europe’s.
That gap will potentially widen as the U.S. Inflation Reduction Act pumps US$370 billion into
clean investment.
To keep pace (and hit our own targets), Canada will need to significantly boost spending on
electric vehicles, heat pumps and carbon capture facilities, among other technologies.
The bottom line: Policy has a role to play in accelerating investment. The U.S. offers a good
example of this, particularly when it comes to electric vehicles and building decarbonization.
https://thoughtleadership.rbc.com/proof-point-canada-still-isnt-spending-enough-on-the-green-
economy/
44. Training and Development
• If you like to learn more
about trade and/or other
subjects as part of your
professional learning and
development then feel
free to review my
material on
https://www.udemy.com/
(search Paul Young CPA
CGA)
• These subjects address
how to fixed issues with
housing and/or systemic
issues related to economy
including government
policies
Source - https://coast.noaa.gov/states/fast-facts/hurricane-costs.html and https://www.statista.com/chart/11009/hurricanes-over-the-atlantic-basin/ https://www.usatoday.com/story/news/nation/2022/03/24/hurricanes-declining-worldwide-but-damage-increasing/9457647002/ and https://www.census.gov/content/dam/Census/library/stories/2019/07/millions-of-americans-live-coastline-regions-graphic-1.jpg