(Calgary) Most of Canada’s oil sands producers have made little progress toward their carbon neutrality target, despite their historically high profits and low capital expenditures, a new report finds.
Posted at 4:21 p.m.
Little action has been taken by members of the New Pathways Alliance, an industry group that represents 95% of Canada’s oil sands producers, to meet their net-zero emissions commitments, according to the Pembina Institute paper. greenhouse gases by 2050.
Last year, Canada’s six largest oil sands producers and two existing oil sands organizations committed to meeting Canada’s climate imperatives under the New Paths Alliance.
New Pathways Alliance President Kendall Diling said in a statement that it was unrealistic to expect companies to make final investment decisions before governments themselves have finalized investment decisions. regulatory frameworks.
The report’s authors want to see more detailed plans for carbon capture projects and to know what investments in such projects will help reduce emissions.
New Paths Alliance members include Suncor Energy, Cenovus Energy, Conoco Phillips, Canadian Natural Resources, Imperial Oil and MEG Energy.