Cutting emissions from Canada’s oil sands by 40 per cent will cost between $45-billion and $65-billion from 2024 through 2030, according to a new analysis.
While the new report from Royal Bank of Canada found that Canada’s oil and gas sector can indeed balance near-term energy security with advancing climate action, the sector will need regulatory certainty and support at all levels of government to do so.
Ministers responsible for energy and environment refer First Nations’ concerns to industry, feds.
The province has approved a fossil fuel storage and shipping facility on B.C.’s north coast despite opposition from First Nations and the potential for “significant” adverse effects in the event of a spill.
The Ministry of Environment and Climate Change announced the decision last week to grant an environmental assessment certificate to Vopak Development Canada Inc., a subsidiary of the Netherlands-based Royal Vopak.
In what campaigners are calling a world first, Quebec’s National Assembly voted Tuesday afternoon to ban new oil and gas exploration and shut down existing drill sites within three years, even as the promoters behind the failed Énergie Saguenay liquefied natural gas (LNG) project try to revive it as a response to Russia’s invasion of Ukraine.
Last week, Environment and Climate Change Minister Steven Guilbeault announced the approval of the deepwater oil project Bay du Nord with 137 conditions, including a requirement the project achieves net-zero greenhouse gas emissions by 2050.
On the second floor of a hotel in the shadow of the CN Tower, Wet’suwet’en hereditary leadership and their allies crowded around laptops and cellphones for one purpose: confront RBC executives over the bank’s financing of the Coastal GasLink pipeline.
Canada’s recently published emissions reduction plan provides a roadmap for how Ottawa plans to hit its 2030 climate targets, but critics say until the financial sector is aligned with climate goals, the government's plans are “derelict.”
Climate advocacy group Environmental Defence’s climate finance manager Julie Segal says Canada appears excited about the benefits of sustainable finance but doesn’t appreciate the risks from continued fossil fuel investments.
