Global Markets: Canada to invest in nuclear energy

By MarketsFarm

WINNIPEG, Oct. 26 – The following is a glance at the news moving markets in Canada and globally.

– The Canadian government will invest C$970 million in new nuclear technology to help reduce the country’s emissions. The grid-scale modular reactor (SMR) project is being developed by Ontario Power Generation and would mark the first commercial grid-scale SMR in the Group of Seven. The funding is being offered as a low interest debt from the Canada Infrastructure Bank’s pool of money earmarked for clean power investment.

– The United Nations is warning that worldwide climate plans fall short of meeting the Paris Agreement targets of limiting rising temperatures. UN climate experts say emissions need to fall by 43 per cent by 2030 in order to meet the goal of limiting global temperature rises to only 1.5 degrees Celsius by the end of the century. Current government commitments would reportedly see emissions rise by 10.6 per cent by 2030.

– New census data released by Statistics Canada shows that 8.3 million people, or 23 per cent of the country’s population, were either an immigrant to the country or permanent resident in 2021. That marked the largest percentage on record, topping the 22.3 per cent reported in 1921. Between the previous census in 2016 and 2021, 1.3 new immigrants settled permanently in Canada.

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