Changing legislation, increasing carbon taxes and net-zero goals will adversely impact businesses and profitability over the next few years. Companies with large greenhouse gas (GHG) emissions will be required to incorporate sustainment planning into their business. These new standards and regulations, while challenging, can present new opportunities for business growth, with different levels of governments providing programs and incentives.

Companies without a robust GHG sustainment plan will likely see an increased cost of capital. Besides increasing taxes on GHG emissions, financial institutions are increasing their focus on GHG planning while making capital backing considerations and decisions. Similarly, consumers and investors now consider a company’s environment, social, and governance (ESG) plans in their purchase and investment decisions.

UK, Europe, and the Asia Pacific are presently ahead of Canada and the USA in this area. Recently announced Canadian carbon tax increases and the new American pro-emissions reduction leadership will drive change in this area at an increased pace.

Some of the key levers to evaluate in any low carbon strategy include: energy efficiency improvements, gas capture, H₂ production/consumption, and carbon capture utilization and storage.

Homefield has decades of Canadian and international experience in all facets of low carbon solutions. Our range of services covers the energy life cycle.