Canada's energy landscape is a mix of low-carbon power and oil/gas production. The government aims to accelerate climate goals, but faces challenges with fossil fuel reliance. There's a focus on a just energy transition and upholding First Nations' rights. The podcast discusses Canada's climate policy, carbon pricing, economic impacts of transitioning, and expectations for COP28. The importance of collaboration, loss and damage issues, and future debrief possibilities are also explored.
Canada has implemented various regulations and initiatives to reduce emissions and meet its 2030 targets.
Carbon pricing is an important tool in Canada's climate plan, accounting for around a third of emission reductions by 2030.
Canada recognizes the need to address emissions from the oil and gas sector and is working on implementing regulations to cap and reduce these emissions.
Deep dives
Canada's progress in fighting climate change
Canada has been playing catch up in the fight against climate change due to previous governments neglecting the issue. Since 2015, Canada has been working towards reducing its emissions and meeting its 2030 targets. The country has implemented various regulations and initiatives, such as clean fuel standards, zero-emission vehicle mandates, and methane reduction regulations. Canada's electricity grid is already low carbon due to hydropower and nuclear energy, but there are still challenges in reducing reliance on fossil fuels. The conversation around climate action in Canada can be controversial and polarized, with debates on carbon pricing and political differences shaping the agenda.
Balancing carbon pricing and a just transition
Canada has implemented carbon pricing since 2019, gradually increasing the price per ton of carbon emissions. However, concerns about the impact on low-income households and affordability have led to a temporary pause on the application of the fuel charge for home heating oil. The government aims to accelerate the transition to cleaner alternatives, offering incentives for Canadians to switch to heat pump systems by providing financial support. Carbon pricing is an important tool in Canada's climate plan, accounting for around a third of emission reductions by 2030. However, discussions around the role of carbon pricing and its potential economic and political implications continue to shape the country's climate and energy policy.
Addressing emissions in the oil and gas sector
Canada recognizes the need to address emissions from the oil and gas sector and is working on implementing regulations to cap and reduce these emissions. While the federal government cannot directly regulate resource use, it can impose measures to reduce pollution levels. The goal is to align Canada's production decline with global trends to avoid displacement of production and ensure environmental benefits. Investments in technologies like carbon capture and storage and reducing methane emissions will play a crucial role in achieving emission reductions. The conversation around the future of oil and gas production in Canada is complex, considering its economic importance and the need to meet climate goals.
Mining and the transition to clean energy
As Canada transitions to a cleaner energy future, the mining sector will play a crucial role in providing resources for renewable energy technologies. However, addressing the environmental impacts and ensuring the protection of Indigenous rights and local communities are important considerations. Canada has been involving Indigenous communities in the impact assessment process for mining projects and exploring mechanisms for Indigenous ownership and partnerships in projects. The government is also looking to create a national fund to support Indigenous communities' investment in critical mining and renewable energy projects.
Expectations for COP 28
Minister Gilbo expresses optimism and highlights the need for collective action at COP 28. Key areas for progress include financing climate action, addressing loss and damage, accelerating mitigation efforts, and fostering international collaboration. The minister acknowledges the challenges associated with addressing loss and damage in a comprehensive manner, including the need for a multifaceted approach and reforms at the UN level. He emphasizes the importance of accelerating emission reductions and recognizing the role of major oil and gas producers in the transition to a net-zero world. Minister Gilbo also mentions the potential for progress on carbon pricing and private sector involvement in climate solutions. He sees COP 28 as an opportunity to build on the momentum generated at previous conferences and work towards meaningful outcomes.
When it comes to energy and climate, Canada is a key player and a land of contrasts. It gets more than 80% of its electricity from low-carbon sources and has a hefty carbon tax. It’s also a major oil and gas producer, and has resources for the metals and minerals needed for a clean energy transition.
As the urgency of the climate crisis grows, the Canadian government has committed to accelerate its climate goals. At the same time, the importance of oil and gas to the Canadian economy, along with the thorny politics of climate, makes reducing its reliance on fossil fuels difficult. Canada also faces challenges balancing energy production and critical mineral mining with a commitment to upholding the rights and sovereignty of First Nations communities.
How is the Canadian government planning to meet its climate goals? What would a just energy transition look like for the country? And what are its leaders hoping to achieve at COP28?
This week host Jason Bordoff talks with Steven Guilbeault about recent developments in Canadian energy and climate policy, and what he is hoping to achieve at COP28.
Guilbeault is Canada’s Minister of Environment and Climate Change, and an elected member of Parliament. He previously served as Minister of Canadian Heritage. Prior to serving in Parliament, he was the senior director of Équiterre, Quebec’s largest environmental organization, which he co-founded in 1993. He has also worked as a director and campaign manager for Greenpeace, and was a strategic advisor to Cycle Capital, a Canadian clean technology fund.
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