“We have had a black eye for a long time on environmental issues and we have not deserved it”. Three principles are expected to shape the coal phase-out: maintaining reliability, providing reasonable price stability for consumers and businesses, and ensuring that capital is not unnecessarily stranded.
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The Star wrote that this news is a boost for Prime Minister Justin Trudeau, who is going to attend the International Climate summit next week in Paris.
Greenhouse gas emissions need to be “net zero” in order to stabilize the climate, meaning GHGs must be reduced to a level where carbon sinks such as forest and oceans can absorb more carbon than is emitted into the atmosphere.
Some of the money will also be used to compensate certain industries and low-income residents affected by the forthcoming climate change policy, the provincial government has pledged.
That status has prompted fierce opposition from environmental groups to proposed pipelines that would allow the industry to access new markets, including the recently rejected Keystone XL pipeline, proposed by TransCanada Corp.
The companies agree that this is a historic development for Alberta and Canada that will change the conversation about climate change, oil sands and infrastructure.
Notley’s left-leaning New Democratic Party took power earlier in 2015, ending 44 years of Conservative rule.
An accelerated timetable for phasing out coal-burning power stations and acceptance of gas-fired replacements will increase demand by up to 1.5 Bcf/d, said the Canadian Association of Petroleum Producers (CAPP).
But she said “in the past, Alberta has hesitantly or reluctantly participated” in such events.
What are the key components?
The proposal comes as world leaders prepare to discuss plans to prevent global temperatures from rising more than 2 degrees Celsius above pre-industrial levels at a summit in France starting November 30.
While his fellow premiers waxed enthusiastic about the leadership shown by Notley and Trudeau on the climate file, Saskatchewan’s Brad Wall sounded the one note of caution. Indeed, the plan does not state any emission reduction targets, and what those look like as part of a national strategy is to be determined.
AltaLink, Alberta’s largest electricity transmission Provider, applauds the Alberta Government on the release of its Climate Leadership Plan.
The letter referred to Germany’s recent decision to close eight large lignite-fired plants, Britain’s plan to close all unabated coal plants by 2025, and the closings of more than 200 plants in the USA since 2010 as proof that coal is on the decline worldwide.
“This is not to say that these strategies should not be pursued”, the report concludes, “but the constant demonization of Canada, its economy, and its energy sector, being portrayed as catastrophically sending the world reeling to irreversible destructive climate change, is also irresponsible and utterly false”.
In what appears to be a direct response to criticisms that Alberta hasn’t done enough to restrict GHG emissions in the oil sands sector, the Plan contemplates an absolute annual emissions cap of 100 megatonnes of GHG from oil sands production.
Gore congratulated Notley and encouraged this first step be followed by ” … continued bold action to transition away from fossil fuels”.
Notley said that some of that revenue would go toward helping lower-income families meet those increased costs.
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Policy experts including Warren Mabee similarly praised the move, but raised several questions about the implementation. They make an important argument that going beyond what other jurisdictions are doing would undermine Alberta’s competitiveness, merely pushing emissions – and economic activity – elsewhere. The whole point is that you use people’s inclination to avoid taxes as an incentive for them to reduce their emissions.
