Teck Frontier decision shows need for co-ordinated climate policy: Pembina

On Sunday, Teck Resources withdrew its application for federal approval for the company's Frontier oil sands project

Pembina applauded Teck Resources for its leadership and support for strong climate actions, including carbon pricing and legislated caps on oil sands emissions. IEEFA graphic.

Pembina Institute is calling on the Alberta and Canadian governments to create a climate policy that will position the oil industry to compete in a low-carbon economy after Teck Resources withdrew its application for the Frontier oil sands project over the weekend.

Simon Dyer, executive director with Pembina, says the two layers of government need to “align on climate policy that will enable Canada to reach emissions reduction targets and create investor certainty.”

The non-profit think tank applauded Teck Resources for its leadership and support for strong climate actions, including carbon pricing and legislated caps on oil sands emissions.

“Under any scenario that has us addressing climate change, business-as-usual cannot continue and, simply, won’t be profitable in the long run as the market shifts toward lower-carbon products,” said Dyer in a press release.

Dyer argues that the Kenney government needs to stop fighting the federal government over carbon pricing and agree to an industrial carbon pollution pricing increase and sector-wide emissions reduction targets.

As well, Dyer says the UCP government should move forward on a regulated and enforced oil sands emissions limit with a schedule of declines that are expected to drive substantial innovation.

“The federal government is on the right track to build on the Pan-Canadian Framework on Clean Growth and Climate Change,” said Dyer.

“Now we need better climate assessments in project decision making, including regulatory processes that ensure individual project approvals can demonstrate compatibility with Canada’s climate goals.”

Dyer says Canada needs a clear carbon budget so industry, provinces and the investment community have clarity to help meet 2030 international climate commitments and Canada’s commitment to hit net-zero carbon emissions by 2050.

 

 

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