------- Canada's energy switch must begin
The International Energy Agency’s new report is clear: for the world to reach net zero by 2050, global oil demand must have already peaked and gas demand will peak before 2030. In other words, growing Canada’s oil and gas sector is inconsistent with a net-zero 2050. Canada must prepare for a future where oil is no longer our largest export.
The good news is that we have what it takes to prosper in a net-zero world. As the IEA notes, we already have all the technologies needed to reach our 2030 climate goals. And with a clean electricity grid, access to U.S., EU, and Asian markets, mature industries, and a skilled workforce, Canada is well-positioned to be a leading exporter of sustainable goods.
Canada must plan for and invest in industries that will be growing in the coming decades, such as battery manufacturing, zero-emission vehicles, and hydrogen. Other parts of our economy also benefit from the transition: in the IEA’s scenario, demand for critical minerals such as copper, cobalt, and manganese—all of which Canada has in abundance—grow seven-fold by 2030 in order to supply the production of clean technologies. The world will be adding the equivalent of almost 20 battery gigafactories a year for the next 10 years to meet the world’s EV needs alone, the scenario concludes.
In the IEA’s own words, ‘by 2050, the energy world looks completely different.’ Canada has what this different world needs—we need only choose to deliver our best and cleanest solutions.
Merran Smith, Clean Energy Canada