Transition Strategy
Carbon Capture and Storage (CCS) is a critical part of a transition strategy that will enable us to grow our economy, while making meaningful cuts in greenhouse gas emissions.
Fossil fuels will continue to play an important role as an energy source for Canada and the world. CCS can serve as a critical technology that will limit emissions from current and new fossil fuel development as society moves to a lower carbon energy future.
Energy efficiency and the development of a renewable energy portfolio will also play a crucial role; however, the real gains from fuel switching or a renewable energy grid will not be felt for decades to come.
Canada’s economic growth is inextricably linked to fossil fuel production and use. CCS is the only solution that can allow for the continued production of coal, oil and gas in the immediate future, providing continued economic growth, while decreasing CO2 emissions.
CCS can be used on new and existing facilities – something no other GHG-reduction option offers. CCS can also be built into the design for oil sands and coal-fired power facilities – Canada’s two largest industrial sources of CO2 emissions.
The energy industry is the foundation of Canada’s export market and our low-cost energy advantage – both of which are essential assets to build on and bridge to the lower carbon future.