Cautionary Statement: Statements of future events or conditions on this website, including projections, targets, expectations, estimates, and business plans are forward-looking statements. Forward-looking statements can be identified by words such as achieve, aspiration, believe, anticipate, intend, propose, plan, goal, seek, project, predict, target, estimate, expect, forecast, vision, strategy, outlook, schedule, future, continue, likely, may, should, will and/or similar references to outcomes in future periods. Forward-looking statements on this website include, but are not limited to, references to the viability, timing and impact of the net zero plan and the development of pathways in support of a net-zero future; support for the pathways from the Government of Alberta and the Government of Canada; the ability to enable net zero emissions from oil production and preserve economic contribution from the industry; the deployment of technologies to reduce GHG emissions; the ability to create jobs, accelerate development of the clean tech sector, provide benefits for other sectors and help maintain Canadians’ quality of life; and making economic investments to ensure a successful transition to a net zero world and delivering long term value to shareholders. All net-zero references on this website apply to emissions from oil sands operations (defined as scope 1 and scope 2 emissions).
Forward-looking statements are based on current expectations, estimates, projections and assumptions at the time the statements are made. Actual future results, including expectations and assumptions concerning: demand growth and energy source, supply and mix; amount and timing of emissions reductions; the adoption and impact of new facilities or technologies, including on reductions to GHG emissions; project plans, timing, costs, technical evaluations and capacities, and the ability to effectively execute on these plans and operate assets; that any required support for the pathways from the Government of Alberta and the Government of Canada will be provided; applicable laws and government policies, including climate change and restrictions in response to COVID-19; production rates, growth and mix; general market conditions; and capital and environmental expenditures, could differ materially depending on a number of factors. These factors include global, regional or local changes in supply and demand for oil, natural gas, and petroleum and petrochemical products and the resulting price, differential and margin impacts; political or regulatory events, including changes in law or government policy and actions in response to COVID-19; the receipt, in a timely manner, of regulatory and third-party approvals including for new technologies; lack of required support from the Government of Alberta and the Government of Canada; environmental risks inherent in oil and gas exploration and production activities; environmental regulation, including climate change and GHG regulation and changes to such regulation; availability and allocation of capital; availability and performance of third-party service providers; unanticipated technical or operational difficulties; project management and schedules and timely completion of projects; reservoir analysis and performance; unexpected technological developments; the results of research programs and new technologies, and ability to bring new technologies to commercial scale on a cost-competitive basis; operational hazards and risks; general economic conditions, including the occurrence and duration of economic recessions; and other factors referenced by the companies’ in their most recent respective annual reports and management’s discussion and analysis, as applicable.
Forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties, some that are similar to other oil and gas companies and some that are unique to the companies. Actual results may differ materially from those expressed or implied by its forward-looking statements and readers are cautioned not to place undue reliance on them. Pathways Alliance Inc. and its member companies undertake no obligation to update any forward-looking statements contained on this website, except as required by applicable law.
We're making clear strides to net zero
Oil sands are on a path to net-zero emissions
Canada's largest oil sands companies are partnering to take action on climate change
We're working collaboratively to achieve our goal of net-zero emissions* from oil sands operations by 2050.
*Scope 1 and scope 2 emissions
We’re developing many paths to net zero
Reaching net zero requires multiple pathways. Our approach includes an estimated $24 billion investment in carbon capture and storage (CCS) and other technologies to reduce emissions and improve energy efficiency in our processes by 2030. Our scientists and experts are also studying and testing many emerging emission-reduction technologies for use in later phases of our plan.
Setting the foundation with carbon capture and storage
Our goal for phase one is to reduce CO2 emissions from our operations by 22 million tonnes annually by 2030. Through government collaboration and a planned $16.5 billion investment, our proposed carbon capture and storage network in northeastern Alberta could capture 10 to 12 million tonnes of CO2 each year.
CCS is a proven clean technology used for decades in Canada, the U.S. and other countries and proposed similar projects are underway in Norway and the UK. Twelve feasibility studies for our new CCS network have already been completed at oil sands facilities, and engineering work and environmental field programs are underway.
We're also investing another $7.6 billion by 2030 in new and existing technology, research and ongoing energy-efficiency projects.
Expansion and improvement
Phase two will focus on expanding the CCS network, using new and emerging technology to improve our processes and increase carbon capture. We’ll also continue to invest in research and development for alternative energy sources, potentially using clean-burning hydrogen or small modular reactors to power oil sands operations.
Investing in emerging technology
Our plan's final phase will focus on further expanding CCS, along with process improvements and innovations, including energy efficiency, fuel switching, and electrification projects. We'll also continue exploring and developing existing and emerging tech, including direct air capture.
Helping Canada meet its climate goals
We’re working collectively with the federal and Alberta governments to achieve our goal of net zero from oil sands operations by 2050, which will contribute to Canada’s emissions action plan and Paris Agreement commitments.
What we’ve achieved so far
There’s much more work to be done, but the oil and gas industry has made some significant progress.
1. Canadian Oil and Natural Gas is a Cleantech Industry, Context Magazine by CAPP. 2. Government of Alberta. 3. Government of Alberta 4. BMO Capital Markets Report.