The Honorable Catherine McKenna, Canada’s Minister of Environment and Climate Change, announced an important part of the country’s vision for a clean-growth economy: the acceleration of the transition from traditional coal power to clean energy by 2030.
The accelerating phase-out of coal power will significantly improve the air quality and the health of Canadians. Traditional coal-fired electricity does not use carbon capture and storage to trap carbon dioxide and store it. The new commitment will reduce Canada’s greenhouse gas (GHG) emissions by more than five mega-tonnes, in 2030. This reduction is the equivalent of taking 1.3 million cars off the road.
The Government of Canada will support this transition by using the Canada Infrastructure Bank to finance projects, such as commercially viable clean energy and modern electricity systems between provinces and territories. Canada will attract global investments that grow the economy and create good middle-class jobs by providing investor certainty and a clear signal to the market that Canada is a leader in clean energy.
The regulatory actions recently announced will put Canada on a path to move from 80% towards 90% non-emitting sources by 2030. Clean electricity will power cars, businesses, and homes across the country. By building a smart, integrated, clean-electricity system, it will deliver reliable and affordable power where it is needed.
The Government of Canada is committed to working closely with provinces and territories to attract the investments necessary to build a modern, integrated, clean-power system that results in local solutions for ratepayers, workers, and the environment. It will also work with provinces and territories to set performance standards for natural gas-fired electricity.
The Government of Canada will work with provinces and labor organizations to ensure workers affected by the accelerated phase-out of traditional coal power are involved in a successful transition to the low-carbon economy of the future.
By investing in clean energy now, Canadians will have better air to breathe, improved health, and a more sustainable and prosperous economy for our children and grandchildren.
Filed Under: News, Policy