WINNIPEG – The following is a glance at the news moving markets in Canada and globally.
– The United Nations’ Intergovernmental Panel on Climate Change (IPCC) sounded a dire and urgent warning on Monday, saying in its latest report that enough greenhouse gas emissions (GHGs) in the atmosphere has locked in warming over the next few decades. In turn, these would increase the frequency and severity of events such as heat waves, hurricanes and other weather-related extremes. Unless immediate, large-scale action is taken, the report said that the average global temperature will cross the 1.5 degrees Celsius above the pre-industrial average threshold within the next 20 years.
– Starting today, Canada’s federal government will allow fully vaccinated Americans to enter Canada and skip a 14-day quarantine period. American citizens or permanent residents must receive the required doses of a COVID-19 vaccine approved by Health Canada and must provide travel information, including a negative PCR test within 72 hours of their arrival.
– Democrats in the United States Senate unveiled on Monday a US$3.5 trillion budget plan which prioritizes tax credits and grants to encourage “clean energy” manufacturing and transportation, while also creating new policies for immigration and education. Democrats hope the non-binding proposal will be debated and passed in Congress over the coming days.