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Canada ends support for international
fossil fuels projects
GLOBAL CANADA has ended financial support for inter- energy and renewables, said the government.
national fossil fuel projects, including oil and gas, In support of the move, Canada’s export
the federal government has said. credit agency, Export Development Canada
The move fulfils a pledge made at the 2021 (EDC), will continue to advance the transition
UN Climate Change Conference (COP 26) in away from oil and gas and into cleantech growth.
Scotland. EDC plans to continue scaling its annual financ-
The move relates only to “unabated” fossil ing for clean technology with an objective to
fuels projects. Those with abated emissions, grow investment from CAD6.3bn ($4.65bn) in
such as projects using carbon capture and stor- 2021 to CAD10bn by 2025.
age (CCS), may still be supported. “The world is facing a climate emergency,
The guidelines, announced by Natural and government resources must be directed to
Resources Canada, would end new, direct pub- investments in clean energy, not burning fossil
lic financing for international unabated fossil fuels,” said Canadian Minister of Environment
fuel investments and projects via government and Climate Change Steven Guilbeault. “Can-
departments, agencies, crown corporations and ada will continue to support other countries to
federal support programmes. develop the clean energy they need to power
Additionally, they will guide the federal their economies, including through various
government’s representatives in their voting on investments from our CAD5.3bn [$3.9bn] in
the boards of multilateral development banks, climate financing,” he added.
and inform the government’s positions in mul- The latest move comes after Canadian Prime
tilateral institutions such as the G7, G20 and Minister Justin Trudeau unveiled the country’s
Organisation for Economic Co-operation and 2030 Emissions Reduction Plan in March 2022.
Development (OECD). The plan is aimed at helping Canada achieve its
Canada will thus ensure its investments abroad target of cutting emissions by 40% below 2005
are aligned with its domestic and international levels by 2030 and putting it on track toward
climate goals, which means investing in clean attaining a goal of net-zero emissions by 2050.
Biden administration to ban federal
buildings from using fossil fuels
US THE administration of US President Joe Biden federal buildings emissions-free by 2045 and to
is seeking to ban federal buildings from using make the economy net zero by 2050.
fossil fuels. The new rules would require all new federal
The new building performance standard buildings by 2025 to reduce onsite fossil fuel con-
would require federal agencies to slash energy sumption by 90% compared to 2003 levels. It is
use and electrify equipment and appliances expected to save the government $8mn per year,
quickly in up to 30% of their building space by officials have said.
2030. This adds to the pressure on gas utilities The American Gas Association (AGA)
and companies, which are facing bans in new described the electrification plans as “a narrow
buildings in several US cities including San Fran- approach to our nation’s climate challenge”.
cisco, Seattle and Cambridge, Massachusetts. The AGA’s president and CEO Karen Harbert
The trend appears to be picking up momentum. said: “The American Gas Association supports
It is easier to lower carbon emissions from the goal of lower emissions, but taking away the
electricity on the grid than from the direct use essential energy provided by natural gas and the
of natural gas. The use of fossil fuels in residen- appliances that people love is not the way to do
tial and commercial buildings makes up more it.” She continued: “Natural gas is popular – a
than a third of the US’ greenhouse gas (GHG) new customer signs up for natural gas service
emissions, said US Secretary of Energy Jenifer every minute in the US. Natural gas is afforda-
Granholm in a briefing. ble and will continue to be. Eliminating natural
“We will be setting a gold standard for new gas in homes and buildings is an inefficient and
construction all across America,” she said. costly way to shift how natural gas is used in our
The Biden administration is seeking to make energy system.”
P8 www. NEWSBASE .com Week 50 15•December•2022
