Major Canadian Investment Firm Cuts Ties with Rainforest Destroyer

Tuesday, 08 May 2012 18:43

tiger5 May 2012 (Toronto) - Canadian investment giant Mackenzie Investments announced today that it has ceased investing in Asia Pulp and Paper’s (APP) pulp operations linked to illegal logging and the clearance of endangered Sumatran tiger habitat.

“Mackenzie has shown commitment to ethical and environmentally responsible investing,” said Shane Moffatt, forest campaigner with Greenpeace Canada. “Until APP stops destroying rainforests and critically endangered Sumatran tiger habitat, it will keep shedding customers and remain a pariah in the investor community.”

Read more: Major Canadian Investment Firm Cuts Ties with Rainforest Destroyer

 

Catalyst poised to scrap Elk Falls mill, sell three others

Wednesday, 21 March 2012 20:10

Richmond-based firm urges creditors to take restructuring plan seriously

elkfalls


BY GORDON HAMILTON, VANCOUVER SUNMARCH 21, 2012

Catalyst Paper plans to seek court approval today to sell its pulp-and-paper mills to the highest bidder at a bargainbasement price, if its creditors do not approve a restructuring plan similar to one they have already rejected.

In an undated letter to creditors filed in B.C. Supreme Court, Catalyst president Kevin Clarke urges them "to give serious attention" to the restructuring plan. Secured and unsecured creditors are to vote on the plan Friday in Richmond.

In the event the plan is not accepted, Catalyst has filed a petition seeking approval to enter into an agreement with a so-called "stalking horse bidder" to sell the entire company for a value up to $395 million, the amount of debt held by its secured noteholders. The intent in seeking a stalking horse bidder, not named in the court documents, is to initiate a competitive bidding process.

Read more at the Vancouver Sun

 

 

 

Unions vote to accept labour agreement, 10 per cent pay cut

Wednesday, 21 March 2012 20:05

BY LEXI BAINAS, CITIZEN MARCH 21, 2012
Catalyst Paper officials are breathing a sigh of relief after reaching new labour agreements with its unions last week.
They represent more than 1,000 pulp and paper workers at the company's Crofton, Port Alberni and Powell River mills and the backing of the Pulp, Paper and Woodworkers and the Communications, Energy and Paperworkers unions both voted in favour of new five-year agreements.
The PPWC's local 2 at Crofton vote was only 55 per cent in favour but that was still enough.

 

Greenpeace Action Against Burning Forests for Fuel

Tuesday, 08 November 2011 17:06

Jobs, wildlife and forests chipped and burned in Toronto ‘power plant’

GP_Ontario_biomassGreenpeace activists gathered near Queen’s Park today to expose current biomass projects and new plans to burn forests for energy. On site with a wood chipper and a simulated power plant, the activists showed how the emerging forest bioenergy sector is threatening public forests, northern jobs and the climate. Symbols representing lost wildlife and jobs were chipped and thrown into the smoke-belching power plant.

“Ontario forests are starting to be cut and burned for energy on an industrial scale,” said Greenpeace Forest Campaigner Catharine Grant.  “These projects are not clean, green and carbon neutral, as they are promoted. The amount of wood that is set to be burnt in power plants or turned into liquid fuels is growing exponentially without the public's knowledge and little government oversight or regulation.”

Last week, Greenpeace released the science-based report “Fuelling a Biomess”, which highlights the dangers of the large-scale use of wood and tree harvesting for heating, electricity generation and liquid biofuels. The report showed that burning forests for energy will increase short-term climate change and provides up to 80 per cent fewer jobs than traditional forestry operations.

Read more: Greenpeace Action Against Burning Forests for Fuel

 

More Articles...