To reach our 2030 targets, Environment Minister Steven Guilbeault says the oil and gas industry will need to reduce its greenhouse-gas emissions by 42 per cent.
Leaning into technology: Another differentiating factor in this plan, is that the Government of Canada has formally committed to developing a carbon-capture utilization and storage strategy for the first time.
Robert Niven, CEO of CarbonCure Technologies is pleased to see this included.
What’s next: This is the first emissions-reduction plan issued under the Canadian Net-Zero Emissions Accountability Act.
Multibillion-dollar tube-transportation project gets financial green light: The same week Ottawa announced its new climate plans, which look at emissions across the sectors, including transportation, a joint Canadian-French company announced big plans for what it calls the “fifth mode of transportation.” TransPod secured $688.2 million in financing for the construction of the Alberta TransPod Line to connect the cities of Edmonton and Calgary in Canada.
Industry concerns: In 2020, an Aecom report commissioned by Transport Canada on hyperloop feasibility concluded that with so many unknown factors and rising capital costs, hyperloop may fall short as an economically competitive alternative.