Politics

Net Zero: More electricity needed to meet net-zero targets, IEA

Welcome to Net Zero, your daily industry brief on clean energy and Canadian-resource politics.

The Lead

A new report from the International Energy Agency (IEA) says that Canada needs to boost its capacity to generate electricity and promote close collaboration between provincial governments, in order to meet the federal government’s ambitious climate-change goals.

Ottawa has promised to reduce greenhouse-gas emissions by transitioning to a clean electricity grid, limiting emissions from the fossil fuel sector, and mandating the sale of electric vehicles. However, if these policies are implemented, Canada’s need for electricity will skyrocket.

“In order to reach its net-zero targets by 2050, Canada will need to electrify large parts of its fossil-dominated sectors, such as transportation, buildings, industry, and remaining oil and gas production. Moreover, its highly decentralized system of government means coordination among federal, provincial, and territorial governments is essential for a successful energy transition,” reads the International Energy Agency (IEA) report.

The report’s authors praised “win-win” projects like the Atlantic Loop, which would reduce coal use in eastern Canada by connecting electricity-generating plants in Atlantic Canada to ones in Quebec. iPolitics has more details.

Internationally

A new study published by the Yale Program on Climate Change Communication found that six in 10 Americans are either “alarmed” or “concerned” about climate change. The Guardian has more on the study’s findings.

In NASA’s annual Global Climate Report, climate researchers said they predict extreme heatwaves, intense rainfall, and coastal floodings resulting from climate change to continue.

“We’re not going to go back to the temperatures that we had in the 1980s. That ship has pretty much sailed, but we can stop making it worse,” said Gavin Schmidt, director of NASA’s Goddard Institute for Space Studies. Global News has more.

Australia recorded its highest temperature in 62 years, as a severe heatwave pushed temperatures to a blistering 50.7 degrees Celsius in the country’s Pilbara region. Reuters has that story.

Meanwhile, climate change and warming temperatures in the Atlantic Ocean are causing some tiger sharks to migrate further north, according to research published in Global Change Biology. Smithsonian Magazine has the details.

On Friday morning at 8:33 a.m., West Texas Intermediate was trading at US$82.09 and Brent Crude was going for US$84.65.

In Canada

Exxon Mobil announced it intends to offer shale oil and gas properties in Western Canada for sale.  Experts expect the properties to fetch between $500 million and $1 billion. Reuters has more on that story.

New Brunswick MLAs are being encouraged to put more climate change funding toward adapting the province’s infrastructure to extreme weather. Currently, fewer than 30 per cent of all projects that received money from the province’s climate change fund were for adaptation.

“Adaptation is not as sexy as electric cars, not as sexy as solar panels, and there is no win,” said Sabine Dietz, the executive director of CLIMAtlantic Inc. “There is no clear win, where we can say we’ve reduced emissions by so-and-so many tonnes. So it is a hard thing to measure but we do know the impact can be severe.” CBC News has the full story.

Mayan Q’eqchi’ woman and Indigenous activist Angélica Choc is urging the federal government to regulate Canadian mining companies operating overseas. Over ten years ago, Choc’s husband, Mayan Q’eqchi’ community leader Adolfo Ich Chamán, was killed by security personnel working at a Guatemalan mine he opposed. The mine was owned by Canadian mining company Hudbay Minerals. You can find Choc’s full interview with CBC Radio here.

Finally, Natural Resources Minister Jonathan Wilkinson announced a $2 million investment for installing up to 300 electric vehicles across Windsor-Essex County. You can read more about the project here.

Canadian Crude Index was trading at US$67.84 and Western Canadian Select was going for US$68.57 this morning at 8:33 a.m.

Noteworthy

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