Canada Oilsands Group To Invest $16.5B In Carbon Capture Technology

Canada Oilsands Group To Invest $16.5B In Carbon Capture Technology - Carbon Herald

The biggest oilsands companies in Canada have pledged to invest a total of $16.5 billion in a huge carbon capture and storage (CCS) plant before 2030. 

The pledge is at the heart of the sector’s strategy to reach net-zero carbon dioxide emissions by 2050. 

Known as the Pathways Alliance, the group is comprised of the six largest oilsands companies in Canada and, in addition to the $16.5 billion promised for carbon capture, it has vowed to spend another $7.6 billion on other projects aimed at reducing CO2 emissions. 

Thus, the total investment on carbon-cutting projects is brought to $24.1 billion. 

Read more: Enbridge And Capital Power Partner Up On Carbon Capture In Canada

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