Canadian Prime Minister Justin Trudeau announced on November 1st that the Canadian government will strengthen its efforts to combat climate change with several new action plans. Among them, Canada will take the lead among major oil-producing countries to impose limits on pollution in the oil and natural gas industry. And reduce to net zero emissions by 2050.
Trudeau, who is attending the United Nations Climate Change Conference (COP26) in Glasgow, UK, announced plans. He said that in order to help achieve the 2050 net zero emissions target, the Canadian government will set a five-year target to ensure that the oil and gas industry plays its role in achieving the country’s 2030 climate response target. The Canadian government is seeking advice from a net-zero emission advisory body on how to best implement its goals.
At the same time, according to the plan, Canada will strive to end the export of thermal coal no later than 2030. Previously, the Canadian government had planned to accelerate the phase-out of traditional coal-fired power generation in the country by 2030, and spent more than 100 million Canadian dollars to promote the transition of coal industry practitioners to the field of clean energy.
Canada is currently the world’s fourth largest oil producer and third largest oil exporter. In Canada’s total greenhouse gas emissions, the oil and gas industry accounts for approximately 25%.
In addition, Canada has pledged to provide financial support to the Climate Investment Fund’s Accelerated Coal Transformation Investment Program and the Energy Industry Management Assistance Program in cooperation with the World Bank to help developing countries transition to clean fuel alternatives and a clean economy.
Trudeau announced in late April this year that, as one of the signatories of the Paris Agreement, Canada will increase its emission reduction targets and reduce greenhouse gas emissions to 40% to 45% of the 2005 level by 2030, and promised Achieve net zero emissions by 2050.
The current UN Climate Change Conference will run from October 31st to November 12th. This conference is the first conference of the parties to be held after the Paris Agreement has entered the implementation phase.