The Alberta government has been developing plans for substantial new investments in carbon emissions-reducing technology to be deployed at oil sands facilities, electric generating stations, cement plants and other industrial plants. Government officials have been working with industry representatives on the comprehensive plan, designed to reduce the province’s overall emissions by 30 megatonnes by 2030, a drop of approximately 11 per cent from current emissions.
The plan has a proposed budget of $30 billion over 10 years, and the province is seeking federal support. In particular, the plan calls for federal funding or tax breaks for carbon capture utilization and storage (CCUS) projects in Alberta.
The federal government is preparing to announce new 2030 climate targets at an international summit planned for Earth Day, April 22. CCUS is expected to be a part of Canada’s climate plan. Ahead of that summit and potential new climate targets, Alberta’s government is proposing carbon reduction plans that would help Ottawa meet its climate change targets and allow the province’s oil and natural gas sector to survive.
A statement from federal natural resources minster Seamus O’Regan notes, “Carbon capture technology creates jobs, lowers emissions and increases our competitiveness. It’s an important part of the government’s plan to get to net-zero emissions by 2050.”
Working group will provide details
On March 8, 2021, Alberta and Ottawa jointly announced the launch of a new committee to advance CCUS technology and deployment. The working group includes officials from the governments of Alberta and Canada and will be advised by representatives from key Alberta industries and other experts. The group will explore CCUS opportunities and how Alberta can be a global leader in this emissions-reducing technology.
“As a pioneer in CCUS development, Alberta has more than a decade of experience with this technology. The ingenuity of Alberta’s energy sector combined with our geological capacity to store carbon and the federal government’s commitment to invest in CCUS is a winning combination,” said Alberta Energy Minister Sonya Savage.