ARC ENERGY IDEAS

Is Canada Spending Enough on Clean Energy? John Stackhouse from RBC Disruptors

Mar 12, 2024

Exploring Canada's lack of capital spending on clean energy transition, challenges in defining 'green' finance, and the impact of upcoming elections on clean energy investments. John Stackhouse from RBC discusses sustainable finance and decarbonization projects, highlighting the barriers to private spending on Canadian clean energy projects.

36:15

Episode guests

John Stackhouse

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Episode notes

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Quick takeaways

Establishing a clear taxonomy for green investments is crucial to attract investors and mobilize private capital towards sustainable projects.

Canada's current spending on clean energy falls short of the required 60 billion annually to achieve climate targets, highlighting the urgent need for increased investments and mobilization of private capital.

Deep dives

Climate Finance and Sustainable Investments

RBC recently released a sustainable finance framework aiming to facilitate 500 billion in sustainable finance by 2025. The framework defines green investments that align with their sustainability goals. The challenge lies in mobilizing private capital towards sustainable investments to meet the ambitious target. Ensuring transparency and consistency in defining 'green' investments is crucial to attract investors and drive capital towards sustainable projects.

Introduction

2min

Exploring Technological Disruption and Energy Transition in Podcasting

4min

Exploring RBC's Sustainable Finance Framework and Defining 'Green'

3min

Defining 'Green' Energy: Taxonomy and Standardization

5min

Challenges and Opportunities in Canada's Energy Transition

23min

This week, John Stackhouse, Senior Vice President, Office of the CEO at RBC joins the podcast. John is also the host of the Disruptors podcast. This episode is a joint podcast that is being made available on both the ARC Energy Ideas and Disruptors podcast channels.

John, Jackie, and Peter discuss sustainable finance and Canada’s dearth of capital spending on energy transition and decarbonization.

Questions covered during the podcast: Is the lack of a national taxonomy that defines what projects count as clean, green, and sustainable slowing investment? Should decarbonization projects, including reducing emissions from oil and gas, be included in the definition of sustainable finance? What are the barriers to increasing private spending on Canadian clean energy projects? Considering the situation, is Canada’s 2030 emissions reduction goal achievable? To what extent are upcoming elections in the United States, Canada, and Europe slowing down clean energy investing?

Content referenced in this podcast:

RBC’s “Sustainable Finance Framework” a document that outlines the bank’s approach and methodology for sustainable finance
RBC’s “Climate Action 2024” an annual report on Canada’s net zero journey
RBC’s Disruptors podcast hosted by John Stackhouse, also on podcast apps like Apple Podcasts and Spotify

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