Energy Future Forum

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What shutting down its oil and gas sector would cost Canada

If the climate challenge confronting Canada is evident, so too is the economic opportunity out there to be captured. The twin objectives are clear and measurable: We must meet our 2030 GHG emission reduction targets on the way to a net-zero future by 2050, and we must do it in a manner that ensures jobs, growth and a strong economy. The good news is that a sightline to that future – one where a national carbon management strategy is critical to meeting our objectives – is coming into clear focus.

In April 2020, the Energy Future Forum convened a plenary session on the critical importance of the United Nations Declaration on the Rights of Indigenous Peoples (UNDRIP) and full Indigenous participation and ownership in Canada’s energy development. The following is a blended transcript edited for clarity and conciseness of Indigenous economic leaders Alicia Dubois, Tabatha Bull, Mark Podlasly, J.P. Gladu and Kim Baird. These leaders spoke about their vision for economic reconciliation, the challenge of access to capital and the opportunity UNDRIP presents to catalyze economic development by making real partnership a prerequisite for any project to move forward in Canada.

Appeared in the Toronto Star.

Sharleen Gale is Chief of the Fort Nelson First Nation in British Columbia and Chair of the First Nations Major Projects Coalition. Edward Greenspon is President of the Public Policy Forum and former Editor-in-Chief of The Globe and Mail.

This paper reflects a strong consensus within the Energy Future Forum that any achievable pathway to national climate and economic objectives must include a significant contribution from carbon capture technologies and from utilization and storage. In any post-COVID, “green stimulus” planning, support for CCUS expansion is even more pivotal than before.

Canada desperately needs to matter more in the United States. After a run-up in the decade after NAFTA, our share of U.S. imports has fallen from roughly 16 per cent to 12 per cent since the Great Recession, leaving us behind both China and Mexico. Auto production, which for decades held fast well above the level guaranteed in the 1965 Auto Pact, was part of the descent.

There is a broadly based consensus in Canada that includes governments, Indigenous peoples, environmental groups, industry and other stakeholders that nature-based solutions will play a crucial role as Canada works to meet its climate change objectives. The Energy Future Forum (EFF) believes the agreement presents a rare and unique opportunity – one that Canada must seize as part of its climate change suite of policies.

Carbon capture has a powerful allure. If there's too much CO2 in the atmosphere, why not remove the excess, and store it deep underground or use it in manufacturing other products? It sounds like a considerable solution on the way to a net zero carbon economy by 2050.

OPINION: Needed: A grand bargain on climate and energy. How: The Energy Future Forum brings together the players — from oil and gas producers to environmentalists, governments, bankers, utilities, academics and Indigenous leaders. The Mission: To find ways Canada can meet or exceed its targets under the Paris climate agreement on the way to a net-zero future, while strengthening the economy and enhancing national unity. When: Now.

The Energy Future Forum (EFF), a new pan-Canadian initiative to develop policy answers that reduce greenhouse gas emissions and strengthen the economy, was officially launched on Dec. 16 at a meeting in Toronto. It's an "unprecedented effort to find common cause in addressing Canada’s climate and energy challenges,” said PPF's Edward Greenspon.