EJQ1 - Summer 2024 - Journal - Page 8
to see net cost-savings as a result of switching to clean energy — if the
right measures are adopted and well executed.
Net zero targets on the horizon
Unless you’ve been living under a rock in the oil sands, you will be aware
that countries around the globe have committed to actions to reach
net-zero emissions by 2050. And here at home the Canadian government
has announced that it aims to decarbonize the grid by 2035. To support
this, the federal Clean Electricity Regulations may soon be enforced, and
some solid incentives for decarbonization will soon be in e昀昀ect.
However, many Canadians are still confused about the path forward as
they navigate the patchwork of options available depending on their
province or territory.
As the country transitions to a clean energy landscape, there are some
critical challenges to overcome. The energy mix is di昀昀erent from region
to region, depending on the geography and natural resources, but also
varying according to economic opportunity. Some areas already generate
more than 90 per cent of their electricity from hydro, while others still
rely primarily on fossil fuels.
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 8
