According to a recent report from Queen’s University’s Institute for Sustainable Finance, Canada will need to spend over $200 billion to fulfill the federal government’s latest pledge to reduce GHG emissions by 40-45 per cent below 2020 levels this decade. That does not include the immense opportunity cost of not developing and exporting oil and gas overseas. Furthermore, the proposed transition could jeopardize 800,000 direct and indirect jobs, including many held by Indigenous people, who account for 7.4 per cent of oil and gas sector employment. Even more bracing, RBC Economics concluded that Canada will need to spend $2 trillion to achieve net-zero emissions in 30 years.
No comments:
Post a Comment