CAPP Response: Proposed Federal Options to Cap and Cut Oil and Gas Sector Greenhouse Gas Emissions to Achieve 2030 Goals and Net-Zero by 2050
Canada’s oil and natural gas industry is a constructive and solution-oriented partner, committed to leadership in emission reduction, energy security and affordability. Canadian producers have been an important part of Canada’s global leadership in emissions-reducing innovations and technologies. At this time of global uncertainty over energy security, our sector has a major role as secure suppliers of sustainable energy and as global leaders in emissions reduction.
Canada’s climate policies need to concurrently support effective environmental outcomes, prosperity, economic reconciliation, and global energy security. Producing lower-emission natural gas and oil will give Canada’s industry a global competitive advantage.
We share the objectives as outlined in the federal government’s discussion paper.
In addition, the industry also supports these additional goals for policy development:
- Advance improved energy supply for countries in need, including energy security for Canadians.
- Advance regional prosperity. Many regions of Canada depend on the sector, and the government’s policy approach must consider this critical regional role.
- Ensure the policy provides flexibility to retain investment while working to decarbonize the industry.
- Advance reconciliation, economic prosperity and partnership with Indigenous peoples.
- Policy must support creation of jobs and business opportunities related to energy and climate solutions.
- Advance carbon capture, utilization and storage (CCUS) technology as a major emission reduction opportunity in several sectors, including improved incentives similar to those in the U.S