Business
‘A Huge Win’: Woke Climate Cartel Goes Belly Up

From the Daily Caller News Foundation
By Owen Klinsky
The Net Zero Asset Managers (NZAM) coalition — a United Nations–sponsored collection of financial services companies that have pledged to negate their portfolio’s greenhouse gas emissions by 2050 or sooner — suspended activities after investment firm BlackRock announced its departure from the group, according to a press release.
BlackRock, which manages more than $10 trillion and has been a leader in environmental, social and governance (ESG) investing, announced its exit from NZAM Thursday, with its Vice-Chair Philipp Hildebrand saying the firm’s involvement in the environmental coalition “caused confusion regarding BlackRock’s practices and subjected us to legal inquiries from various public officials.” Now, NZAM has pressed pause altogether, halting operations while it conducts a review of its activities, an NZAM press release published Monday said.
JUST IN: The UN-backed Net Zero Asset Managers (NZAM) group has announced that it will be shutting down completely, following @BlackRock‘s departure. pic.twitter.com/o5htgvFEiH
— Will Hild (@WillHild) January 13, 2025
A slew of other financial services had left NZAM prior to BlackRock’s Thursday exit, including Goldman Sachs Group, Wells Fargo & Co., Citigroup, Bank of America, Morgan Stanley and JPMorgan Chase & Co. BlackRock’s exit came amid a broader corporate strategy shift away from ESG investing, with the firm only supporting about 4% of the 493 environmental and social investment proposals that shareholders put forward between the end of June 2023 and the end of June 2024, down from a rate of 47% in 2021.
BlackRock was a major supporter of ESG investing in years prior, with CEO Larry Fink saying in 2020 that “climate risk is investment risk” and that climate change would lead to a “fundamental reallocation of capital.”
“The destruction of NZAM is a huge win for consumers,” Will Hild, executive director of the conservative nonprofit Consumers’ Research, told the Daily Caller News Foundation. “Although there is a lot of work left to be done, what was effectively a cartel of asset managers has finally ceased taking the focus of businesses off of consumers, raising prices for everyday Americans everywhere from the gas pump to the grocery store.”
When reached for comment, NZAM referred the Daily Caller News Foundation to its press release.
Business
Looks like the Liberals don’t support their own Pipeline MOU
From Pierre Poilievre
Business
Canada Can Finally Profit From LNG If Ottawa Stops Dragging Its Feet
From the Frontier Centre for Public Policy
By Ian Madsen
Canada’s growing LNG exports are opening global markets and reducing dependence on U.S. prices, if Ottawa allows the pipelines and export facilities needed to reach those markets
Canada’s LNG advantage is clear, but federal bottlenecks still risk turning a rare opening into another missed opportunity
Canada is finally in a position to profit from global LNG demand. But that opportunity will slip away unless Ottawa supports the pipelines and export capacity needed to reach those markets.
Most major LNG and pipeline projects still need federal impact assessments and approvals, which means Ottawa can delay or block them even when provincial and Indigenous governments are onside. Several major projects are already moving ahead, which makes Ottawa’s role even more important.
The Ksi Lisims floating liquefaction and export facility near Prince Rupert, British Columbia, along with the LNG Canada terminal at Kitimat, B.C., Cedar LNG and a likely expansion of LNG Canada, are all increasing Canada’s export capacity. For the first time, Canada will be able to sell natural gas to overseas buyers instead of relying solely on the U.S. market and its lower prices.
These projects give the northeast B.C. and northwest Alberta Montney region a long-needed outlet for its natural gas. Horizontal drilling and hydraulic fracturing made it possible to tap these reserves at scale. Until 2025, producers had no choice but to sell into the saturated U.S. market at whatever price American buyers offered. Gaining access to world markets marks one of the most significant changes for an industry long tied to U.S. pricing.
According to an International Gas Union report, “Global liquefied natural gas (LNG) trade grew by 2.4 per cent in 2024 to 411.24 million tonnes, connecting 22 exporting markets with 48 importing markets.” LNG still represents a small share of global natural gas production, but it opens the door to buyers willing to pay more than U.S. markets.
LNG Canada is expected to export a meaningful share of Canada’s natural gas when fully operational. Statistics Canada reports that Canada already contributes to global LNG exports, and that contribution is poised to rise as new facilities come online.
Higher returns have encouraged more development in the Montney region, which produces more than half of Canada’s natural gas. A growing share now goes directly to LNG Canada.
Canadian LNG projects have lower estimated break-even costs than several U.S. or Mexican facilities. That gives Canada a cost advantage in Asia, where LNG demand continues to grow.
Asian LNG prices are higher because major buyers such as Japan and South Korea lack domestic natural gas and rely heavily on imports tied to global price benchmarks. In June 2025, LNG in East Asia sold well above Canadian break-even levels. This price difference, combined with Canada’s competitive costs, gives exporters strong margins compared with sales into North American markets.
The International Energy Agency expects global LNG exports to rise significantly by 2030 as Europe replaces Russian pipeline gas and Asian economies increase their LNG use. Canada is entering the global market at the right time, which strengthens the case for expanding LNG capacity.
As Canadian and U.S. LNG exports grow, North American supply will tighten and local prices will rise. Higher domestic prices will raise revenues and shrink the discount that drains billions from Canada’s economy.
Canada loses more than $20 billion a year because of an estimated $20-per-barrel discount on oil and about $2 per gigajoule on natural gas, according to the Frontier Centre for Public Policy’s energy discount tracker. Those losses appear directly in public budgets. Higher natural gas revenues help fund provincial services, health care, infrastructure and Indigenous revenue-sharing agreements that rely on resource income.
Canada is already seeing early gains from selling more natural gas into global markets. Government support for more pipelines and LNG export capacity would build on those gains and lift GDP and incomes. Ottawa’s job is straightforward. Let the industry reach the markets willing to pay.
Ian Madsen is a senior policy analyst at the Frontier Centre for Public Policy.
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