Energy companies are contributing greatly to the conference held in Whistler, BC, after its mayor called for the largest oil and gas producer in Canada to compensate the mountain town for the effects of climate change.
In a letter from Whistler Mayor, Jack Crompton asks President Canadian Natural Resources Ltd. Tim McKay "Begin to take financial responsibility for the climate-related damage that our company has created with your products." One of the influences has increased the cost of forest fire protection, he wrote
The performers were encouraged by a polarizing debate between the green groups and the oil industry, which tried to persuade the Canadians that it was unable to add pipeline capacity and increase fossil fuel prices, promoting environmental degradation, causing job losses and other economic disruptions.
Impulse effects spread to the Canadian Imperial Trading Bank, which held the annual Whistler Investment Conference in January. This is the main event in which institutional investors get acquainted with presentations from dozens of public companies, many of which are in the energy sector.
PrairieSky Royalty and Gibson Energy Inc. companies have opted out of the event in response to a letter. CNRL has also dropped out of the conference, and others are considered as follows.
"We have been there every year since our initial public offering in 2014, both to support our industry partners and CIBC, but given the letter sent to the CNRL Deputy Mayor of Whistler, we do not waste our time and shareholder dollars at this event Whistler this year, "said Cameron Proctor, PrairieSky's Chief Operating Officer.
Mr Proctor said the company does not want to harm the CIBC but wants to send a message that energy is a major contributor to the Canadian economy, including Whistler and its lush skiing spots.
Head of CIBC spoke in support of the industry. "The Canadian energy sector is responsible for the global development of energy. We are loyal to our customers in the energy sector, as they play a decisive role in the governance of the Canadian economy," said Roman Dubčaks, Managing Director and CEO of the Global Investment Bank.
There is no evidence that CNRL has a particular impact on the climate more than any other manufacturer; it was chosen as a goal for symbolic reasons. Other West Coast communities have sent similar letters to oil companies, including Chevron Corp., Exxon Mobil Corp. and Saudi Aramco as part of the West Coast environmental initiative.
The campaign regrets that "these companies and their shareholders want to attract their business model and what it means to take the" cradle to the grave "for products that destroy the health of our global atmosphere," WCEL said on its website.
Mr Crompton was in the city council on Thursday and is not available for comments. In his statement, he said that his council believed that the fight against climate change was a "multifaceted challenge" and that all levels of government, industry and individuals were responsible for solving problems and resolving costs.
Mr Crompton acknowledged that people can visit Whistler for fossil fuels, and that hundreds of thousands of people work in this industry. These employees "are proud of the work they are responsible for producing Canadian resources and … thousands of these employees have opted for a holiday in our community. Our goal was to focus on climate change. In no way was our goal to make someone feel unwanted in Whistler," he said.