Once Again, Canada Can Lead The Way


(MENAFN- 3BL) (Editor's note: Greg Ebel presented on this subject to the Toronto Region Board of Trade on Oct. 6, 2023. See the news release .)

Throughout history are pivotal moments where Canada stood tall in addressing major global concerns and crises from heroic efforts in world wars to Prime Ministers prompting others to do the right thing-i.e., Lester B. Pearson pulling the world from the brink war over the Suez Canal in 1956 and Brian Mulroney prompting action against South African apartheid 35 years ago.

When moments required decisive action and principled leadership, Canada stepped up.

Today, in Ottawa and capitals across the globe government officials see climate change as another such pivotal moment.

That's in part why Canada, like many other nations, has pledged to reach net zero carbon-dioxide (CO2) emissions by 2050.

But what if, as in times past, Canada did something better?

What if rather than just meeting its own net zero goal (which represents less than 2% of global emissions), Canada could help the world much more significantly reduce overall CO2 emissions?

Article 6 of the Paris Climate Agreement-a legally binding international treaty adopted by 196 parties at the UN Climate Change Conference in 2015-states that Nations can be credited for tangible emissions solutions that extend beyond their borders.

An 'obligation' to alleviate energy poverty, transition away from coal-fired electricity

This is a major global leadership opportunity for Canada.

In fact, it's been staring us in the face for the past decade, with little to no progress, while the U.S. has seized on it.

The opportunity I'm referring to is the export of Canadian natural gas. If used to displace coal in Asia and Eastern Europe, this would have a tremendous impact on reducing global emissions-far greater than Canada achieving its own 2050 net zero commitment.

Natural gas is a lower-carbon source of energy-about half the impact of coal. And it's even more sustainable when it comes from Canada, which is among the cleanest producers in the world.

Coal still feeds 40% of the world's electricity, so any serious energy and climate policy needs to prioritize the worldwide transition away from coal.

Not only would it more dramatically reduce emissions, it would strengthen the Canadian economy-creating jobs, supporting families, and making the most of an important natural resource we have in abundance.

Indeed, we have more than enough natural gas to meet our own domestic needs for 200 years or more. That give us the freedom-I'd even suggest the obligation-to look beyond our borders and consider the benefits of export that go far beyond those economic returns.

Bringing liquefied natural gas-or LNG-to global markets also supports energy security (think European markets that have been dependent on Russian energy) and can alleviate energy poverty in parts of Asia and Africa.

Building and operating an LNG facility requires major construction and power consumption. It therefore takes a degree of political courage to go all-in on LNG-because it can lead to an increase in domestic emissions. But it will also mean a sizable net benefit as we help reduce the 98.5 per cent of emissions produced beyond our borders.

Inaction is a choice, indifference is a choice

Clearly, the time has come to accelerate the building of an LNG economy for Canada. We have the supply, sustainable production and short travel times-the complete package.

But we have a choice to make and let there be no doubt: Inaction is a choice. Indifference is a choice.

So, what must be done?

I'm calling on the Canada government to adopt policies and regulatory measures that will enable the responsible and efficient development and export of this important resource and streamline permitting processes to better respond to the urgent need.

'Now is the time to commit to a cleaner energy future-not just for Canada, but for the world'

At the same time, investment in the entire energy sector and many others could be accelerated by the immediate implementation of a federal Indigenous loan-guarantee program to ensure Canada's Indigenous peoples have a seat at the table and equity that helps secure a more prosperous future for them as well.

Finally, let's show the world that Canada is ready to make a serious and lasting contribution to reducing global emissions-by providing a cleaner source of energy to countries that need it and want it.

Our country has a proud history as a leader on the global stage, stepping up when the moment demands it, pushing the world to do better. We need to get back to this kind of global leadership. Our energy resources-especially LNG on the West Coast-are central to this and can help support real outcomes, global emissions reductions, and the energy security of our allies.

Canada, now is the time to step up yet again. Now is the time to commit to a cleaner energy future-not just for Canada, but for the world.

Greg Ebel,
President and CEO, Enbridge

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