Justin Trudeau is ahead of his rivals when it comes to policies to address climate change, according to Tom Rand, managing partner at ArcTern Ventures and author of the book Climate Capitalism. However, he says the Liberal leader’s credibility with younger and harder-line climate voters is challenged in large part by his government’s decision to purchase the Trans Mountain Pipeline.
“The reason the government bought that pipeline is because the private sector unloaded it. They didn't unload it just because of political risk,” Rand told Yahoo Finance Canada’s Editor’s Edition on Aug. 24. “They unloaded it because it's just simply not the great long term economic strategy to be building 50-year capex projects predicated on shipping some of the most expensive, highest-carbon oil on the planet to another port.”
Jeff Lagerquist is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jefflagerquist.