IEA special report maps major transformation in energy sector to meet climate goalsPembina Institute reacts to the International Energy Agency’s roadmap to limit global warming

May 18, 2021

Oilsands facilities in Alberta

According to the IEA, the world no longer requires new supplies of fossil fuels beyond those under development today. Photo: Pembina Institute

OTTAWA — The Pembina Institute made the following statements in response to the International Energy Agency’s special report: Net-Zero in 2050: A roadmap for the global energy system:

“The IEA report shows the rapid transformation that is necessary in global energy systems if we are to limit global warming and avoid worst-case scenarios of extreme weather events, species loss, and devastated landscapes. To meet the goal of a climate-safe future, greenhouse gas emissions must immediately and rapidly decline. According to the IEA, this means that the world no longer requires new supplies of fossil fuels beyond those under development today.

“This isn’t just an environmental issue. This is an equity issue. Thoughtful planning for the energy sector can result in cleaner air, positive health outcomes, job opportunities and poverty alleviation, and greater biodiversity. Heading into COP26, federal and provincial governments need to follow the IEA’s lead and model a pathway to meet net-zero for Canada’s energy sector that is aligned with a sustainable, climate-safe future.”

— Nichole Dusyk, senior analyst, the Pembina Institute

On the impact on oil and gas production

“We now have an analysis from the most authoritative energy body in the world that shows a direct link between a climate-safe future and a sharp decline in demand for oil and gas. Within the decade, this will have a significant impact on the price and therefore production levels of oil and gas in Alberta. We can also expect that the purchasers of oil and gas products will increasingly direct their spending on oil and gas produced with the lowest upstream emissions. Alberta must take action to reduce emissions in the oil and gas sector to remain carbon-competitive as demand declines. This means attracting large scale investments in decarbonization by demonstrating that the Alberta government is committed to achieving net-zero emissions and has a credible climate plan based around a predictable and stable carbon price regime.

“The province needs to develop climate action plans that get to net-zero emissions and include job creation support so that the province can transition to a greener, healthier, and, critically, more sustainable economy.”

— Chris Severson-Baker, Alberta director, the Pembina Institute



Victoria Foote
Senior manager strategic communications, Pembina Institute


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