MONTREAL—Rick Smith, President of the Canadian Climate Institute, issued the following statement in response to the Canada-EU joint statement issued today on the Alliance for the Future:
“Canada and the European Union have sent a clear and unwavering signal that closer co-operation on decarbonization and climate resilience will be central to their new strategic alliance. The task now is to turn talk into action—to build on the aspirations and momentum behind this new partnership with durable progress that creates lasting economic benefits for all nations involved.
“The joint statement recognizes that climate change is an existential threat for both jurisdictions: a reality that is increasingly impossible to ignore as the impacts of extreme heat, wildfires, floods, and other disasters become more disruptive and expensive. It reaffirms existing commitments established by the Canada-European Union Green Alliance, which both parties recognize as the “compass for advancing decarbonization while also strengthening competitiveness, affordability and economic security.” And it provides a number of avenues to accelerate investment in Canada’s critical mineral supply chains, which aligns with our previous research and supports substantial economic opportunities in the global energy transition.
“The joint statement also underlines important priorities for further collaboration between Canada, the European Union, and other like-minded ‘middle power’ nations, including:
- Mobilizing investment and innovation to create jobs and improve competitiveness in sectors poised for growth in the global energy transition, such as critical minerals, clean technologies, and low-carbon transportation;
- Advancing industrial carbon markets and decarbonization technologies for high-emitting industries, as a necessary step toward shared climate goals;
- Working with Indigenous Peoples to strengthen Arctic sovereignty, security, resilience, and sustainable economic development;
- Ensuring that the upcoming international climate negotiations at COP31 “deliver ambitious outcomes for climate and the environment”.
“Canada can take action now to follow through on this high-level agreement with practical steps that make life more affordable and better for Canadians, while smoothing the road for closer ties with Europe. For instance: better aligning safety standards for electric vehicles and heat pumps will give Canadians better options to reduce their energy bills. Federal-provincial co-operation to modernize and strengthen industrial carbon markets can help Canadian firms adopt cost-effective clean technologies and reduce exposure to the EU carbon border tariff. And the work underway to develop Made-in-Canada sustainable finance guidelines compatible with the EU’s own taxonomy will make it easier to attract international financing for low-carbon economic development.
“On climate adaptation, both parties can put the commitments of the Green Alliance to work by recognizing ‘the urgency of creating more climate-resilient societies’. As that foundational document makes clear, collaboration in these areas involves a range of actions to ‘enhance resilience and adaptive capacity to the impacts of climate change’ including climate-proofing infrastructure, nature-based solutions, and improving the buildings we live and work in.”
“Ultimately, this new strategic alliance is a strong step towards a more competitive, resilient economic future—one with substantial new growth opportunities in the global energy transition that is accelerating around the world. The job for policymakers on both sides of the Atlantic is now to turn these shared goals and values into reality.”
RESOURCES
- Op-ed | A clean economy needs to be at the heart of EU-Canada relationship
- Report | Critical Path: Securing Canada’s place in the global critical minerals race
- Op-ed | From wildfires to trade corridors: climate-proofing is economic strategy
- Blog | Global carbon markets are Canada’s next clean energy advantage
CONTACT
Krystal Northey
Lead, Public Affairs
Canadian Climate Institute
(226) 212-9883
