GLASGOW, United Kingdom, Nov. 1, 2021 /CNW/ – The Prime Minister, Justin Trudeau, today announced Canada’s plans to support the global phase-out of thermal coal, help developing countries transition to clean fuel alternatives as quickly as possible, and reduce pollution in the oil and gas sector.
Climate scientists know that ending coal power emissions is one of the single most important steps the world must take in the fight against climate change. The Trudeau government agrees and announced that Canada is working toward ending exports of thermal coal by no later than 2030. The ban would follow action already taken, including accelerating the phasing out of conventional coal-fired electricity in our country by 2030, and putting in place investments of more than $185 million to support coal workers and their communities through the transition to cleaner energy.
To further support the global community’s efforts to phase out coal-fired electricity, Trudeau also announced up to $1 billion for the Climate Investment Funds Accelerated Coal Transition Investment Program, through Canada’s international climate finance contribution, to help developing countries transition from coal-fired electricity to clean power as quickly as possible. Intended for support at the local and regional levels, and to accelerate the retirement of existing coal mines and coal power plants the plan is hoping to enable new economic activities “and contributing to a socially inclusive and gender equal transition”.
In addition, the Prime Minister announced $25 million in funding to the Energy Sector Management Assistance Program, a partnership with the World Bank. This is intended to help develop and implement clean energy alternatives, and support low- and middle-income countries in the transition to a cleaner economy.
Canada is among the world’s biggest oil and gas producers. As the world moves to clean energy alternatives, Canada’s energy sector must adapt, which the government is hopeful will spur innovation and help create the jobs of the future.
Canada is the first major oil-producing country moving to capping and reducing pollution from the oil and gas sector to net zero by 2050. To help do this at a pace and scale needed to achieve the shared goal of net zero by 2050, the government will set 5-year targets, and will also ensure that the sector makes a meaningful contribution to meeting Canada’s 2030 climate goals. In a letter sent today from Ministers Guilbeault and Wilkinson, the government is seeking the advice of the Net-Zero Advisory Body on how best to move forward on this approach.