Ottawa, Ont. | Traditional, unceded territory of the Algonquin Anishinaabeg People – In this year’s World Energy Outlook (WEO) report, the International Energy Agency (IEA) has shown that the answer to the world’s energy, climate, food insecurity and economic crises is the same – a significant scaling back of fossil fuels and a simultaneous scaling up of investments in renewable energy sources.
All three WEO scenarios show that the demand for all fossil fuels – including fossil gas – either declines or plateaus in the coming years, clearly rebuking the false narrative that so-called “natural” gas is a transition fuel. For Canada to remain competitive in the global market, the federal government and the banks that finance the oil and gas sector need to immediately pivot and invest in clean energy.
Next year for the first time, the Canada Energy Regulator will be mapping a net-zero scenario to guide climate action policies in its Energy Futures report. It must follow the example of the IEA and clearly lay out how Canada can achieve a future that is climate-safe, with a resilient economy, and a transition to clean energy jobs for individuals.
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.
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For more information or to request an interview, please contact:
Barbara Hayes, Environmental Defence, email@example.com