Carbon emissions are a global problem.
That is why our plan will reduce global emissions, while creating jobs in Canada.
The current international approach to fighting climate change is to require countries to self-impose domestic emissions reductions targets. Around the world, countries work to reach their own emissions reductions targets regardless of the cost or risks of carbon leakage to higher-emitting countries.
As a result, good opportunities to lower global emissions are sacrificed to focus on policies to meet domestic targets that will have little to no international impact.
Canada must look beyond our own borders and confront the climate change reality: it is a global problem, for which global solutions are needed.
A global solution would focus climate change efforts on the most efficient emissions reductions, regardless of what country they are in. There is no way to do this under existing international agreements. As a result, wealthy countries with good environment practices, like Canada, are forced to subject themselves to expensive emissions reduction strategies while high-emitting developing countries with lower cost emissions reduction opportunities struggle to make those investments. This defeats what should be the ultimate objective of lowering global emissions.
There is one mechanism under the Paris Agreement that can be used to facilitate international cooperation on emissions reductions: Article 6. The international community has so far been unable to agree on the rules that would govern Article 6. Canada should be an active participant in those negotiations to ensure that our efforts are recognized.
A Real Plan to Protect Our Environment recognizes the powerful position Canada is in to break the status quo and export our technology and expertise to lower emissions in other parts of the world. Our plan lays out three ways we will show leadership.
- Canadian energy products can be used to replace dirtier foreign energy sources.
- The export of Canadian Clean products can displace higher emissions products.
- Technology developed in Canada to reduce emissions can be exported to the world.
1. Canadian energy products can be used to replace dirtier foreign energy sources.
It has been well-established that natural gas, like LNG, is a cleaner source of reliable energy than coal. Exporting Canadian LNG to replace coal can lower global emissions.
Canadian liquefied natural gas (LNG) has the potential to provide a cleaner alternative for power generation in countries like China as they transition away from coal. By promoting LNG, we can support a key driver of the Canadian economy and reduce global emissions at the same time. The world will be better off with more Canadian LNG, and less Chinese coal.
Marine shipping accounts for an estimated 2.5% of total greenhouse gas emissions worldwide and as a result the International Maritime Organization has adopted a strategy to reduce greenhouse gas emissions from ships 50% by 2050. A key component of meeting this goal lies in transitioning the fleet from burning heavy bunker fuel to clean burning LNG.
There are currently no LNG bunkering facilities on the Pacific Coast of North America. A Vancouver facility could not only support the shipping industry’s transition to cleaner fuels, but it could also give Canada a first mover advantage when it comes to providing LNG to the world’s shipping fleet. Building LNG bunkering facilities at the port of Vancouver would not only make it more attractive to shippers but would also grow the economy and reduce overall global emissions. We can help to get projects like this built by providing regulatory support.
2. The export of Canadian Clean products can displace higher emissions products.
Canada has abundant natural resources, that the world needs and wants to buy. Our production standards are amongst the best in the world, and our required investments in emissions-reducing technology will make them even better. By promoting our cleanest resources and products and increasing our exports, we can displace dirtier foreign products with Canadian Clean products.
Canada produces aluminum more efficiently than the rest of the world. For every tonne of aluminum, the average Canadian aluminum producer emits much less than the average Chinese producer. Furthermore, the aluminum industry is international; if we don’t produce it, someone else will. It makes sense to produce aluminum in Canada to support our economy and increase the carbon-efficiency of the global supply.
Rio Tinto and Alcoa are working on breakthrough technology that would produce carbon-free aluminum smelting. This R&D facility is in the Saguenay and the technology is expected to be ready for market in 2024.
3. Technology developed in Canada to reduce emissions can be exported to the world.
Canada is a global leader in carbon capture and sequestration technology. It has been tested and developed successfully on Canadian facilities, and now we can use that technology know-how to help the world by continuing to consult, improve and export internationally. China is one country that has shown interest in using this technology in their own facilities.
Our farmers have developed technologies that facilitate no-till or low-till farming techniques, which increases the capacity of the land to sequester carbon. Plant science technologies have also allowed Canadian farmers to reduce their use of diesel.
Canada is already home to many emissions-reducing technologies. Our plan will generate even more by getting industry to invest in innovation, introducing the Green Patent Credit, and investing in the Green Technology and Innovation Fund. Exporting these technologies to the world is an opportunity for Canada to have a global reach on emissions reduction.
With close to 3,000 coal plants, if China fitted even just the top 100 plants with carbon capture and storage, they could eliminate more than 300 Mt of CO2e per year – nearly half of what Canada’s entire economy produces.
GREEN EXPANSION ACCELERATOR
A Conservative government, led by Andrew Scheer, will champion the expansion of Canada’s cleanest industries. As mentioned, Canadian companies already produce some of the greenest products, energy, and technology in the world. We will create a competitive advantage to help these companies grow and expand into the global market.
A Real Plan to Protect Our Environment will not only help keep good-paying jobs here in Canada, but it will also create new jobs by supporting industry to replace dirtier sources of energy around the world.
As Prime Minister, Andrew Scheer will:
- Provide targeted accelerated capital cost allowances to industries that can be shown to reduce emissions in other countries, and to producers who can be shown to be among the least carbon-intensive in the world in their industry.
To do this, we will set aside up to an initial $500 million to accelerate depreciation rates. The Green Expansion Accelerator will be time-limited to three years to incentivize companies to invest in their expansions more urgently. Finance Canada will work with other departments, including Environment and Climate Change Canada and Natural Resources Canada, to establish criteria for the Green Expansion Accelerator.
EXPANDING GREEN BONDS
It can be difficult for any growing business or budding entrepreneur to raise the money needed to expand and market new products.
While the green economy presents new and exciting opportunities, this is especially true for businesses developing emissions-reducing technologies.
Green bonds are useful for providing capital for clean tech start-ups,particularly in the early stages when companies are struggling to bring new technologies up to scale. These bonds can provide patient capital and longer-term funding, but they also allow green technology companies to leverage that financing to attract more capital from the private sector.
Export Development Canada already issues green bonds to support Canada’s export trade by helping Canadian companies seize international business opportunities and export green technologies around the world.
As Prime Minister, Andrew Scheer will:
- Expand Export Development Canada (EDC) programs to issue more green bonds that provide financing for the development of emissions-reducing technologies.
LAUNCHING THE ‘CANADIAN CLEAN’ BRAND
Canada needs a federal government that is not afraid to champion clean Canadian industries and products to a world that is increasingly looking for green options. We want to give global consumers the confidence that when they purchase a product branded as 'Canadian Clean', they are getting one of the greenest products in the world.
The Canadian Clean brand will appeal to global customers and the standards used will be transparent to withstand international scrutiny.
As Prime Minister, Andrew Scheer will:
- Launch the ‘Canadian Clean’ brand for Canadian products that are the cleanest in the world. The Canadian Clean brand will allow buyers in Canada and around the world to have confidence that they are getting a high-quality product that is making a difference for our environment.