OTTAWA—Rick Smith, President of the Canadian Climate Institute, made the following statement about the agreement-in-principle on the Canada-Alberta methane equivalency agreement:
“Today’s announcement that Canada and Alberta have reached an agreement-in-principle on reducing methane emissions is a positive step forward. The final details of the equivalency agreement, and follow-through on the commitment to independent and transparent verification of outcomes, will be critical to determine the agreement’s success.
“Reducing methane is one of the lowest-cost emission-reduction options for the oil and gas sector and can support Canadian companies that find innovative solutions to market beyond national borders. In fact, the industry has already shown encouraging progress reducing these emissions, thanks in large part to joint federal-provincial action.
“Today’s commitment to jointly select an independent third party to model and assess emissions reductions is an important approach to reinforce policy ambition and integrity, and help ensure the regulations cover the true extent of methane pollution levels from Alberta’s oil and gas sector.
“While this agreement-in-principle matches the commitment in the Canada-Alberta MOU, that commitment is a step back from Canada’s stated goal of reducing methane emissions by 75 per cent below 2012 levels by 2030. By delaying this target, Canada is giving up an estimated 53 Mt of carbon dioxide equivalent of feasible and cost-effective emissions reductions over the next decade. This agreement leaves many important details to be decided, including the role of offsets, which must be carefully defined to avoid double counting.”
“We look forward to providing further comment on the details of the equivalency agreement once it is posted for public consultation, and will work to ensure the final equivalency agreement between the two parties is rigorous, transparent and aligned with evidence and best practices to be as effective as possible.”
RESOURCES
- Insight | Finalizing Canada’s oil and gas methane regulations would be an easy win for climate progress
- Insight | The biggest emission cuts come from policy that’s shared between federal and provincial governments
MEDIA CONTACTS
Claudine Brulé (Eastern Time)
(226) 212-9883
cbrule@climateinstitute.ca
Krystal Northey (Mountain Time)
(226) 212-9883
knorthey@climateinstitute.ca
ABOUT US
The Canadian Climate Institute is an independent climate policy research organization that produces rigorous research, analysis, and economic modelling, drawing on experts and leaders across the country. Our work focuses on: accelerating clean growth and low-carbon competitiveness; measuring progress in Canada’s clean energy transition; amplifying Indigenous perspectives and climate solutions; unlocking sustainable investment; and making our economy and infrastructure more resilient to a warming climate.
