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CAPP issues statement on Canadian Net-Zero Emissions Accountability Act

·2 min read

CALGARY, AB, Nov. 19, 2020 /CNW/ - In response to the Canadian Net-Zero Emissions Accountability Act introduced by the Government of Canada on November 19, 2020, CAPP issues the following statement:

Canadian Association of Petroleum Producers Logo (CNW Group/Canadian Association of Petroleum Producers)
Canadian Association of Petroleum Producers Logo (CNW Group/Canadian Association of Petroleum Producers)

"The Canadian Association of Petroleum Producers is committed to working with the Canadian government to meet emissions reduction objectives, which includes the ambition to achieve net-zero by 2050. This is a 30-year challenge that will have significant impact on all Canadians and require collaboration across industries and all levels of government.

"Any pathway to net-zero includes the efficient use of oil and natural gas. Considerable investment in technology and innovation at scale will be needed, including negative emissions technologies such as carbon capture, use and storage. There are important opportunities for industry to contribute given our expertise in these areas.

"Today, Canadians are concerned about keeping their jobs, staying healthy and recovering from the devastating economic impacts of the pandemic. Oil and natural gas is one of Canada's largest industries, Canada's largest export product and a major source of investment and tax revenue. We can play a key role in supporting good jobs and generating economic growth to benefit all Canadians.

"By working together, we can further accelerate innovation and develop technology that reduces emissions while delivering responsibly produced energy to meet global energy demand."

-Tim McMillan, CAPP president & CEO

Visit www.capp.ca for more on Canada's natural gas and oil industry's commitment to climate change.

The Canadian Association of Petroleum Producers (CAPP) represents companies, large and small, that explore for, develop and produce natural gas and oil throughout Canada. CAPP's member companies produce about 80 per cent of Canada's natural gas and oil. CAPP's associate members provide a wide range of services that support the upstream oil and natural gas industry. Together CAPP's members and associate members are an important part of a national industry with revenues from oil and natural gas production of about $109 billion a year. CAPP's mission, on behalf of the Canadian upstream oil and natural gas industry, is to advocate for and enable economic competitiveness and safe, environmentally and socially responsible performance.

SOURCE Canadian Association of Petroleum Producers

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