PE Ledger

Wednesday, January 19, 2022

The Canadian Energy Regulator has been criticized for failing to anticipate a net-zero future

Canadian Energy Regulator

The estimates of the government agency are considered as being out of pace with climate goals.

The federal body in charge of forecasting Canada’s energy supply and demand for the next few decades has come under fire for failing to provide a strategy for the sector to achieve net-zero carbon emissions by 2050 in its latest annual report.

That is Canada’s legally mandated climate objective, in order for the country to contribute to keeping global warming below 1.5 degrees Celsius and avoiding the catastrophic consequences of unchecked climate change.

According to the Canada Energy Regulator’s (CER) newest energy future study, the country’s oil output will continue to climb until 2032, and natural gas production will rise until 2040, which appears to be incompatible with Canada’s emissions targets.

The CER based its estimates on the assumption that climate action and policymaking in Canada and overseas will continue to increase at the same rate as in prior years.

Experts say there is no time to squander and that climate promises must grow more ambitious.

“We’ve seen horrific floods in British Columbia, wildfires all summer, and an extremely difficult drought season for Canadian farmers — we’re already seeing the effects of climate change,” said Vanessa Corkal, a policy advisor at the International Institute for Sustainable Development, a think tank that studies climate policy in Canada.

“This report does not contain information that will assist us in dealing with and preventing such climatic calamities.”

Canadian Energy Regulator

Governments and businesses use the CER’s energy future report to plan future energy projects and policies, as well as to make investment decisions. Its forecasts are critical in ensuring that Canadian businesses invest in the proper things as the world shifts to cleaner energy sources, according to Corkal.

“If we’re going to have a competitive Canadian economy that flourishes in a net-zero economy and avoids climate tragedy,” she added, “Canada needs to catch up to that analysis.”

“At the domestic level, we need data that is granular and thorough enough to assist Canadian businesses and investors in planning.”

More information about a net-zero future

“Going forward, I have requested the CER to look into how they could offer even more data in keeping with Canada achieving net-zero emissions by 2050,” Natural Resources Minister Jonathan Wilkinson said in a tweet last week in response to the report.

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