EJQ1 - Summer 2024 - Journal - Page 7
HERE’S THE BAD NEWS: oil and gas production is still the largest source
of climate polluting emissions in Canada — accounting for about 30 per
cent of the country’s greenhouse gas emissions — according to the latest
data available. Now here’s the good news: a powerful and positive change is
underway.
Total energy investment worldwide is expected to exceed $3 trillion in 2024
for the 昀椀rst time, with some $2 trillion set to go toward clean technologies
— including renewables, low-emissions fuels, and e昀케ciency improvements — according to the latest edition of the International Energy Agency’s annual World Energy Investment report. The remainder, slightly over
$1 trillion, is going to coal, gas and oil.
For its part, the Government of Canada is backing the transition to clean energy with a signi昀椀cant number of investments and incentives, and more effective policies. Some compare the scale of building clean power grids to the
building of the transcontinental railroad that connected the country more
than century ago; a massive and complex undertaking that is well worth the e昀昀ort.
By 2050, in the ideal world, our environmental
targets will be met, and Canadians can expect
READ THE
WORLD ENERGY
INVESTMENT REPORT
E N V I RON M E N T J OURN A L QUA RT E RLY RE PORT • Q1 2 02 4 • P AGE 7
