Canada, March 16, 2022 (GLOBE NEWSWIRE) — March 16, 2022 (Ottawa) – Public Policy Forum and McCarthy Tétrault LLP today Leadership blueprint, An energy conversion strategy to achieve Canada’s climate goals. The Blueprint builds on two years of involvement with environmental, business, and indigenous stakeholders and concludes that an aggressive decarbonization strategy is the most practical route to Net Zero in the energy production sector. increase.
“Climate change measures are not negotiable. Netzero is not negotiable,” said Edward Greenspon, president and chief executive officer of the Public Policy Forum. “But we’re stuck between two competing visions of phasing out fossil fuels and aggressive decarbonization. The debate is spending valuable time on us. We are moving forward as a country. We need to choose the path of energy transformation based on exports, strong innovation records, and good global citizenship. “
Aggressive decarbonization focuses on reducing GHG emissions from fossil fuel production. Oil and gas production declines in parallel with demand, rather than risking a rapid decline in production, a situation that causes price shocks when supply fails to meet demand. The industry sinks or swims with the ability to reduce emissions through processes such as the use and storage of carbon capture, direct air capture, switching to clean energy sources, and further development of hydrogen.
Wayne Wouters, Strategic and Policy Adviser for McCarthy Tetrault, said: “If you move too slowly, you will not reach your goal. If you move too fast, you run the risk of financial and social instability.”
The report argues that aggressive decarbonization avoids the price shocks and energy shortages found in places like Germany where energy systems are phased out before new systems are firmly established. increase. Encouraging advances have been made in renewable technology, but the report says it is not yet ready to provide reliable basic electricity and does not have the energy strength needed for key industries such as steelmaking. I am saying.
The report also states that Canada is rich in natural gas. With the continued production and export of this important resource, Canada can help other countries stop consuming coal. It can also contribute to the production of hydrogen as a clean energy source in Canada and around the world.
The Blueprint calls for action in the areas of environmental, economic and indigenous reconciliation and ensures a measurable and accountable commitment to Net Zero. In the 2020s, emissions need to be downhill. The report recommends a complete public-private partnership approach to generate the incentives and financial capital needed to achieve the monumental energy transitions needed in the relatively short time frame available.
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About Public Policy Forum
The Public Policy Forum provides a platform for building bridges among the diverse participants in the policy-making process, investigating issues, providing new perspectives, and providing fresh ideas for key policy debates. We contribute by conducting research on key issues, convening open dialogue on research themes, and commending outstanding leaders. PPF is an independent, independent charity, whose members are diverse groups of private, public and non-profit organizations.
About McCarthy Tétrault
McCarthy Tétrault is a Canadian law firm that provides clients in Canada and around the world with a complete suite of legal and business solutions. We provide integrated business, litigation, tax, real estate, labor and employment law services through our offices in Vancouver, Calgary, Toronto, Montreal, Quebec City, New York and London, UK. We help our clients build a competitive advantage.
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Experts actively promote decarbonization to reach net zero, Canadian Business Journal
Source link Experts actively promote decarbonization to reach net zero, Canadian Business Journal