By withdrawing its application for the massive Frontier Mine, Teck Resources is acknowledging the market realities facing the fossil fuel sector: high-cost, high-carbon projects are no longer economically realistic in a world that is taking climate change seriously. Even without this decision, the Frontier Mine was unlikely to ever have been built, given that it would only have been profitable at oil prices much higher than forecasts show.
In a world moving away from fossil fuels, this project was only ever offering false promises to the workers of Alberta, and Canada, concerned about their futures. Canada has a wealth of opportunities awaiting in wind, solar, geothermal and energy efficiency. Now is the time to invest in the clean energy sector and a real transition for communities.
The Frontier Mine has sparked a divisive debate about the prospects for new fossil fuel infrastructure in a world moving rapidly to tackle climate change. Teck Resources acknowledged that moving forward with the project was impossible because Canada currently lacks a clear framework to align oil and gas development decisions with climate action. But there’s a clear path to provide industry with clarity for future energy projects: the federal government must put in place a climate test that ensures that projects can only be approved if they are aligned with Canada’s climate goals, and are economically viable in a world that limits global warming to well below two degrees Celsius.
With this decision, Canada should now turn to the necessary and vital work of building a national economy that is both sustainable and fair for all communities.
About ENVIRONMENTAL DEFENCE (environmentaldefence.ca): Environmental Defence is a leading Canadian advocacy organization that works with government, industry and individuals to defend clean water, a safe climate and healthy communities.
For more information or to arrange an interview, please contact:
Barbara Hayes, Communications Manager, Environmental Defence, email@example.com