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Canada Keeps Hiding from Net-Zero. Instead, it must plan for it.

As a significant oil and gas producer, the implications for Canada are stark, and have already fuelled much regional and political consternation.
By Dan Woynillowicz on June 2, 2021

This op-ed originally appeared in iPolitics. Read the full article here.

"If governments are serious about the climate crisis, there can be no new investments in oil, gas, and coal … from this year (on)."

This stark statement generated headlines around the world last week, not because of what it said, but because of who said it: Fatih Birol, head of the highly respected International Energy Agency (IEA).

As a significant oil and gas producer, the implications for Canada are stark, and have already fuelled much regional and political consternation. But we can’t hide from this reality. Instead, we must plan for it, both to minimize the impacts and carve out new competitive advantages.

With each passing day, more countries — and companies — are promising to emit net-zero greenhouse gases (GHGs) by 2050, and the shift away from fossil fuels is already underway. As documented in a new report, countries with net-zero targets collectively represent 61 per cent of global GHGs, 68 per cent of global gross domestic product, and 52 per cent of the global population. Companies with net-zero commitments represent sales of nearly $17 trillion.

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