Calgary – December 7, 2023
“Pathways Alliance will take the necessary time to analyze the government’s emissions cap framework to determine how it may impact oil sands operations.
“We have set ambitious targets for the oil sands sector to achieve significant annual CO2 reductions by 2030 and reach net zero emissions from operations by 2050. These are targets that will require timely project approvals and a fiscal framework that is competitive with emissions reduction incentives in other jurisdictions.
“It is our view that existing, economy-wide carbon pricing systems, including provincial equivalents such as Alberta’s Technology, Innovation and Emissions Reduction (TIER) system, already provide appropriate regulation to drive emission reductions toward net zero by 2050. Imposing an emissions cap, with additional regulatory complexity, does nothing to advance the certainty necessary for the planned multi-billion-dollar decarbonization projects to proceed.
“While we recognize that the federal government adjusted some of the aggressive oil sands targets suggested in the Emissions Reduction Plan after analysis showed they were not technically achievable, we still need a greater understanding of how the cap integrates with other policies to support our emission reduction investments.
“We remain committed to working with the provincial and federal governments to progress our proposed carbon capture and storage network and to advancing other technology solutions that will get us to our 2030 emissions target and our 2050 net zero goal.”