Feds should not waste their $15-billion Canada Growth Fund on carbon capture for oil
Laura Cameron is a senior policy adviser at the International Institute for Sustainable Development, specializing in the areas of fossil-fuel subsidies, just transition, and oil and gas policy in Canada. Angela Carter is a professor at the University of Waterloo and an energy transition specialist at the International Institute for Sustainable Development.
Achieving this potential rests in the hands of the Public Sector Pension Investment Board , responsible for independently managing the fund’s active investment strategy to boost Canada’s clean economy and attract global capital to it. As it currently develops its plan, the most fundamental question the PSP needs to answer is which initiatives and technologies it will back – which will deliver the greatest climate benefits over the investment horizon.
For too long, Canada has entertained the myth that CCS for oil and gas is a silver-bullet solution in creating a globally competitive, low-carbon oil and gas sector. CCS for oil and gas has been promoted by industry as key to Canada’s competitive advantage in a decarbonizing world. Despite all the evidence to the contrary, this beguiling myth is perpetuated within industry and has pervaded the conversation around Canada’s energy transition.
CCS solutions for oil and gas can’t meet the current time crunch Canada is facing to achieve its emission-reduction targets. Constructing CCS facilities takes between five and seven years because of the extensive infrastructure build-out required. The oil and gas industry itself acknowledged the time constraints of CCS but is asking Canadians to ignore the technology’s irrelevance to mid-term targets and think instead of what it could potentially achieve by 2050.
المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين
Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.
CANADA: Hot and dry conditions persist as wildfires rage through Western CanadaMore than 19,470 people have been forced out of their homes, with Swan Hills, northeast of Edmonton, the latest community to order an evacuation Tuesday
اقرأ أكثر »
CANADA: Hot and dry conditions persist as wildfires rage through Western CanadaMore than 19,470 people have been forced out of their homes, with Swan Hills, northeast of Edmonton, the latest community to order an evacuation Tuesday
اقرأ أكثر »
Waffle makers recalled in Canada and the U.S. after users suffer burnsA waffle maker appliance sold online in Canada is being recalled after 34 burn injuries were reported by consumers in the U.S., said Health Canada.
اقرأ أكثر »
Canadian public pension fund investments in China draw heightened scrutinyInvestments in China by Canada's largest public pension funds are facing increased scrutiny amid worsening relations between the two countries and allegations that some of those investments are funding the oppression of China's Uyghur minority.
اقرأ أكثر »
Radio host jailed for sedition in Hong Kong finds a home and freedom in CanadaVANCOUVER — Edmund Wan, recently released from a Hong Kong prison, says he feels at ease in Vancouver.
اقرأ أكثر »
‘Looking for Canada’: RCMP’s Musical Ride steeped in tradition as force turns 150Maxwell Newhouse remembers the earth quivering below his feet when 32 riders wearing bright scarlet jackets, on top of their large black horses, moved across a field in seamless patterns.
اقرأ أكثر »