Build Back Better

We’re living in a world of exceptional uncertainty. An increasing divide between the fundamentals of the economy and the performance of the market, legitimate fear and evidence of a second wave of Covid-19 cases, and a pivotal election on the horizon have made the months ahead feel as unclear as any in recent memory. Through the pandemic, we’ve heard a consistent refrain to “Build Back Better”. In Canada, two thirds of voters backed parties with a strong climate platform in last year’s elections showing public appetite for action. Despite this, Canada’s Conservative Party recently stated they will “fight the carbon tax with every last breath”. On both sides of the border, the issue of addressing climate change continues to be a partisan fight. Despite the uncertainty we’re living through, political momentum for climate technology is greater than we've seen in our lifetime. Two weeks ago, Husky Energy announced it will be linking GHG reduction to employee compensation; a pivotal move to align incentives. Last week, Apple’s pressure on members of it’s supply chain led to the largest-ever corporate renewable energy deal; their supplier the Taiwan Semiconductor Manufacturing Company agreed to a 20-year contract to purchase power from a windfarm off the coast of Taiwan to remain in Apple’s good graces. Yesterday, Germany received $39 billion of orders for its first green bond; demand nearly matched a record for its conventional bond sales earlier this year. These events don’t make the future of our world meaningfully more certain, but they point to lasting changes that support the demand for technologies and services that create a healthier planet. 

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