TSX Futures Stand Firm as All Eyes Turn to Trump-Putin Summit
Market Numbers (Futures)
TSX : Up ( 0.04%) 27,927.16TSXV: Down (0.85%) 779.81DOW: Up (0.64%) 45,288.00NASDAQ: Down (0.03%) 23,923.00
FTSE: Up (0.06%) 9,182.77
In the Headlines:
U.S. booze exports to Canada have been hammered—spirits and wine shipments cratered by over 60% in just six months as provinces pulled U.S. brands from shelves in a fiery response to Trump's tariffs
And Airbnb just dropped its no-money-down 'Reserve Now, Pay Later' feature—letting U.S. guests lock in stays with zero upfront, in a confident pivot to turbocharge bookings and test investors' patience on host risk
Currencies Update: (Futures)
The Canadian dollar punched up 0.18% to $0.7263 U.S., pressed the euro down 0.14% to $0.6194, while Bitcoin got hammered, shedding 1.52% to land at CDN$164,246.72.
Commodities: (Futures)
Natural Gas: Up (2.36%), 2.91WTI: Down (1.92%), 62.73Gold: Up (0.12%), 3,340.42
Copper: Down (0.42%) 6.03
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Toronto Sun
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- Toronto Sun
GOLDSTEIN: Canada's targets for cutting greenhouse gases fit the definition of insanity
Liberal and Conservative governments have been setting and failing to meet emission reduction targets since 1988. Photo by iStock / GETTY IMAGES After almost four decades of Canadian governments setting and failing to hit eight consecutive targets for reducing Canada's industrial greenhouse gas emissions, surely it's time to admit the targets are meaningless. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account Far from being 'aspirational' as supporters claim, they in fact deceive Canadians about the effectiveness of federal spending of more than $200 billion of taxpayers' money on climate change (as of 2023) on 149 federal programs administered by 13 government departments, since the Liberal government came to power in 2015. In fact, Liberal and Conservative governments have been setting and failing to meet emission reduction targets since 1988. Given 37 years of ongoing failures, these targets now fit the definition of insanity — doing the same thing over and over again, expecting different results. Here's where things stand given the latest available federal government emissions data that comes from 2023. Your noon-hour look at what's happening in Toronto and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. Canada's current emission reduction target was set by then prime minister Justin Trudeau in 2021 — a goal of reducing Canada's emissions to at least 40% (and, ideally, up to 45%) below 2005 levels in 2030. According to the federal government, which retroactively changes the historical data every year based, it says, on improved data-gathering methods, Canada emitted 759 million tonnes of these gases in 2005. That means the government's target is to cut Canada's emissions to 455 million tonnes (40% below 2005 levels) and, ideally, to 417 million tonnes (45% below 2005 levels) in 2030. Canada's emissions in 2023 were 694 million tonnes which is 8.5% below 2005 levels. To meet the minimum federal target of reducing emissions to 455 million tonnes in 2030 would require cutting 2023 emissions by 239 million tonnes. This advertisement has not loaded yet, but your article continues below. That would mean the equivalent of shutting down Canada's entire old and gas sector (208 million tonnes of annual emissions in 2023) in 2030 and still coming up short. To reach the government's interim target of reducing emissions to 20% below 2005 levels in 2026 (meaning 607 million tonnes) would require a cut of 87 million tonnes of emissions by next year, more than all emissions from Canada's buildings sector in 2023 (82.7 million tonnes). Earlier this year, the government announced another unrealistic target of reducing emissions to 45%-50% of 2005 levels by 2035. A report by federal environment commissioner Jerry DeMarco following an audit of the Liberals' Net Zero Emissions Accountability Act last year said it was still possible for the government to achieve its 2030 target, 'but now the task is much harder because there are only six years left to do essentially 20 or 30 years worth of reductions.' This advertisement has not loaded yet, but your article continues below. His findings, however, provided few grounds for optimism. DeMarco said the government's lack of transparency made it impossible for the average citizen to understand, much less believe, its emission reduction targets. It claims current policies will achieve a 36.2% reduction in emissions compared to 2005 in 2030, close to its minimum target of 40%. But when DeMarco's auditors examined a sampling of 20 of the government's 149 measures to cut emissions, they found only nine were on track to achieve their goals. Of 32 additional measures the government claimed would help boost reductions from 36.2% to at least 40% in 2030, only seven were new. The audit found cases where two different programs were funding the same projects and reporting the same expected emission reductions, raising the possibility of double-counting. This advertisement has not loaded yet, but your article continues below. It also reported the computer modelling used to estimate the emission cuts of various government programs wasn't updated in 2023 compared to 2022 and that some of the initial calculations were overly optimistic. In addition, 'recent decreases to projected 2030 emissions were not due to climate action taken by governments, but were instead because of revisions to the data used in modelling.' Given all this, if the Liberals under Prime Minister Mark Carney won't abandon unrealistic climate targets then they should at least come clean with Canadians about where things really stand. Read More This advertisement has not loaded yet, but your article continues below. This as opposed to their current practice of insisting they're on track to meet their targets when the federal government's own data tell a very different story. It's the same problem with the Liberals' policy to mandate that 20% of all new car sales must be battery-electric, plug-in hybrid or hydrogen fuel cell starting next year, rising to 60% in 2030 and 100% in 2035. The auto sector has warned that given lagging EV sales in Canada, the only way to achieve the 2026 target would be to pull a million new gas-powered vehicles off the market, limiting consumer choice, increasing delivery times and driving up costs for consumers at a time when our auto sector is under siege from Donald Trump's tariffs. RECOMMENDED VIDEO Canada Crime Toronto & GTA Toronto Blue Jays Toronto Blue Jays
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26 minutes ago
- CTV News
West Virginia sends hundreds of National Guard members to Washington at Trump team's request
WASHINGTON — Members of the West Virginia National Guard will be deployed to the streets of the nation's capital as part of the Trump administration's effort to overhaul policing in the District of Columbia through a federal crackdown on crime and homelessness. Gov. Patrick Morrisey, announced Saturday that he was sending 300 to 400 members of his state's National Guard to nearby Washington at the Republican administration's request. They will arrive in the District of Columbia along with equipment and specialized training services, his office said in a statement. 'West Virginia is proud to stand with President Trump in his effort to restore pride and beauty to our nation's capital,' Morrisey said. 'The men and women of our National Guard represent the best of our state, and this mission reflects our shared commitment to a strong and secure America.' The move comes as federal agents and National Guard troops have begun to appear across the heavily Democratic city after Trump's executive order Monday trump federalizing local police forces and activating about 800 D.C. National Guard troops for his plan. Maj. Gen. James Seward, West Virginia's adjutant general, said in a statement that members of the state's National Guard 'stand ready to support our partners in the National Capital Region' and that the Guard's 'unique capabilities and preparedness make it an invaluable partner in this important undertaking.' Federal agents have appeared in some of the city's most highly trafficked neighborhoods, garnering praise, pushback and alarm from local residents and leaders across the country. City leaders, who are obliged to co-operate with the president's order under the federal laws that direct the district's local governance, have sought to work with the administration though have bristled at the scope of the president's takeover. Matt Brown And Mike Pesoli, The Associated Press
Toronto Star
an hour ago
- Toronto Star
West Virginia sends hundreds of National Guard members to Washington at Trump team's request
WASHINGTON (AP) — West Virginia is sending 300 to 400 members of its National Guard to the nation's capital to assist in the Trump's administration's takeover of the city's police department. The move by a nearby state comes as hundreds of District of Columbia National Guard were activated this week to back up local law enforcement in what the Republican administration calls an effort to crack down on crime and homelessness in the District of Columbia.
