Canada’s Minister of Energy and Natural Resources Jonathan Wilkinson released Canada’s Carbon Management Strategy at the International Energy Agency in Paris, France on Sept. 27. The new strategy discusses the role of CO2 management in the country’s path to a net-zero economy and the federal actions taken in support of the development and deployment of CO2 management technologies in Canada.
The Strategy focuses on five key priority areas for the promotion of a competitive CO2 management sector:
● Fostering innovation and accelerating research, development, and demonstration (RD&D) efforts.
● Promoting stable policies and regulations, including Canada’s economy-wide CO2 pricing system.
● Attracting investments and facilitating trade opportunities.
● Expanding projects and infrastructure to match the changing requirements of the carbon management sector.
● Cultivating partnerships and nurturing inclusive workforces.
Canada boasts five of the first large-scale carbon management projects globally, as well as an ecosystem of innovators and start ups, early investments in research and development, technical expertise, and a strong policy and regulatory environment at both the federal and provincial level.
The newly released strategy outlines the country’s already established carbon management practices, as well as the crucial next steps in ensuring future progress in the area.
Canada’s Carbon Management Strategy has been shaped through extensive collaboration between the government and a diverse array of stakeholders for over a year. This collaborative effort has included provincial and territorial governments, Indigenous organizations, industry leaders, technology innovators and adopters, infrastructure stakeholders, academic institutions, environmental non-governmental organizations, the financial sector, and engaged citizens. The aim has been to capture the multitude of opportunities presented by carbon management technologies across different regions and industrial sectors.
CO2 management technologies play an important role in decarbonizing the heavy industries in Canada with the goal to achieve net zero by 2050, Wilkinson said. “The International Energy Agency, the IPCC and other experts have been clear about the need for countries to rapidly develop and deploy carbon management technologies, and Canada is leading the way.”