Glacier FarmMedia COVID-19 & the Farm

Global Markets: Four Canadian oil firms blacklisted by wealth management fund

By MarketsFarm

WINNIPEG, May 14 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
Norges Bank Investment Management, a branch of Norway’s central bank, has excluded several Canadian oil firms due to “unacceptable greenhouse gas emissions.” Canadian Prime Minister Justin Trudeau said the decision emphasizes that climate change risk is becoming increasingly important to global investors. “It is so important for Canada to continue to move forward on fighting climate change and reduce our emissions in all sectors. I can highlight that many companies in the energy sector have understood that the investment climate is shifting, and there is a need for clear leadership and clear targets to reach on fighting climate change to draw on global capital,” Trudeau said on Wednesday at a press conference.

A fourth food safety inspector from the United States Department of Agriculture (USDA) has died from COVID-19, according to a statement from a union official. The Inspector was located in Dodge City, Kansas. As of May 13, 123 USDA Food Safety and Inspection Service employees were under self-quarantine due to coronavirus exposure. The rate of infections near U.S. meat plans is nearly twice the national rate. At least 10,000 meat processing workers have been infected or exposed to the virus, and at least 30 have died.

According to new data from Statistics Canada, manufacturing sales dropped by 9.2 per cent to total C$50.8 billion in March. Factories shuttered due to the COVID-19 pandemic, or faced a sharp drop in demand. The agency said it was the largest percentage drop since the global financial crisis of 2008. Statistics Canada also said, given the circumstance, demand is likely to continue to drop in April as well.

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