Canada's Heavy Industry Urges for More Ambitious Climate Policies for Net-Zero Future
Key Ideas
  • Representatives from heavy industries in Canada emphasize the need for ambitious and predictable policies from the government to make investments towards achieving net-zero emissions.
  • The Canadian Climate Institute and the Net-Zero Advisory Body recommend setting a 2035 target to reduce emissions by 50 to 55% below 2005 levels on the path to a net-zero goal by 2050.
  • Industry players express concerns about political and policy uncertainties impacting investment decisions for emissions reduction and the need for a clear long-term view.
  • Hydro-Québec CEO highlights the importance of managing the race to net-zero without significantly increasing costs for consumers, emphasizing the need for substantial clean energy investments globally.
Representatives from the cement, aluminium, hydrogen, and power sectors in Canada recently emphasized the urgent need for more ambitious and predictable climate policies from the government to drive investments towards achieving net-zero emissions. The Canadian Climate Institute and the Net-Zero Advisory Body have recommended setting a 2035 target to significantly reduce emissions by 50 to 55% below 2005 levels as part of the country's journey towards a net-zero economy by 2050. Industry spokespeople highlighted the importance of having a clear long-term view to make investment decisions for emissions reduction effectively. Concerns were raised regarding political and policy uncertainties impacting the industry's competitiveness and the market's direction, emphasizing the critical need for stability and clarity in climate policies. The Canadian Climate Institute, along with other organizations, is set to launch a Commission on Carbon Competitiveness to provide insights on attracting necessary investments for emission reductions while supporting existing industries and fostering new clean energy sectors. Hydro-Québec's CEO stressed the significance of managing the transition to net-zero without significantly increasing costs for consumers, underscoring the vital role of substantial global investments in clean energy. The challenges faced by Hydro-Québec in meeting its ambitious emission reduction goals and the need for accelerated project permitting were also highlighted as illustrative of the broader global hurdles on the path to a sustainable energy transition. The article showcases the industry's collective call for proactive government policies, stable investment conditions, and clear decarbonization pathways to drive the transition towards a more sustainable and competitive future.
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