Mia Rabson, The Canadian PressElizabeth Curmi, head of climate finance and energy transition at Citi, joins BNN Bloomberg to discuss cutting carbon in hard-to-reach sectors.
“I think everyone should do their fair share,” Guilbeault said in an interview with The Canadian Press ahead of a news conference in Ottawa on Monday with Natural Resources Minister Jonathan Wilkinson to outline more details of the plan. The regulations propose to force emissions from upstream oil and gas operations to fall to 35 per cent less than they were in 2019 sometime between 2030 and 2032.
Guilbeault said reducing emissions from Canada’s oilpatch is the only way Canadian oil will remain competitive in a world that is increasingly looking for the greenest option available. The broad strokes of the policy were outlined nearly a year ago when Guilbeault published a “framework” for the plan that promised to force emissions from upstream oil and gas production downward until they were between 35 and 38 per cent lower in 2030 than in 2019.