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Canada announces multi-billion climate investment plan

Justin Trudeau, Canadian Prime Minister, during the presentation of the government's climate plan in Vancouver on March 29.

In November, Jerry DeMarco, Canada’s environment commissioner, noted the “chess” country in the fight against climate change. Canada had registered the “worst performance” of the G7 countries, according to this independent body.

To catch up, the Canadian government announced on Tuesday, March 29, to embark on an investment plan of 9.1 billion Canadian dollars (6.5 billion euros).

For the Prime Minister, Justin Trudeau, “the whole world is focused on clean energy”including Europe, which wishes to reduce its dependence on Russian oil and gas. “Canada cannot afford not to do this”he said at a press conference in Vancouver, western Canada.

“Leaders I’ve spoken to in Europe over the past few weeks have been clear: they don’t just want to end their reliance on Russian oil and gas, they want to accelerate the energy transformation towards clean, green energy.”he added.

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100% electric vehicle sales by 2035

More than $2.9 billion will be injected into the transition to electric vehicles, including aid for Canadians and charging infrastructure. Ottawa aims to sell at least 20 per cent zero-emission vehicles by 2026 and have them represent 100% of new passenger vehicles sold in Canada by 2035.

In addition, Justin Trudeau’s government will invest in the construction of net-zero energy buildings by 2050, and in wind and solar energy projects. Canada wants to reduce emissions from the oil and gas sector by 31% to achieve carbon neutrality by 2050.

This ceiling, well “how important”does not go far enough, estimated the David Suzuki Foundation, an association for the defense of the environment. “This plan has a better chance of success than any Canadian climate plan that preceded it”however, admitted its general manager.

Canada is thus committed to reducing its greenhouse gas (GHG) emissions by 40% by 2030, compared to their 2005 level.

As the world’s fourth largest oil producer, Canada ranks among the top ten emitters of GHG emissions on the planet and has one of the highest per capita emissions. Last week, Ottawa announced an increase of about 5% in its oil exports to meet “requests for help” of its “allies, struggling with shortages” due to the conflict in Ukraine.

The World with AFP

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