Over 70 academics in Canada have claimed that low-carbon technology could be a “major new economic engine for the country.”
The claim was made in a report which looks at how the country could transition to low-carbon energy systems while remaining competitive in a global market.
The researchers found that decreased demand for fossil fuels in the coming years could reduce investment in the oil and gas sector – making the industry less attractive to potential investors – and renewable energy more attractive.
A low carbon-energy journey was recommended in the report, with the scholars setting out the necessary steps as ‘preparation’ until 2020, ‘early implementation’ between 2020 and 2030 and ‘deep decarbonisation’ between 2030 and 2050.
The preparation phase would involve developing a common vision for the future.
The early implementation stage would allow Canadians to decide on the best future energy mix in different parts of the country, and to use renewable energy as an “economic engine”.
The deep decarbonisation phase would see the country adhering to its international commitment and reducing emissions by at least 80% of 2005 levels by 2050.
But they added that action needs to start immediately, as climate change targets are unlikely to be met at the current rate.
The report said: “The current ambition of low-carbon policies and measures will not allow us to reach our destination––a world that will have avoided a global temperature increment greater than 2oC.”
It added that the country should accelerate its shift to a low-carbon economy by taking steps to reduce energy demand through energy efficiency and conservation, and by progressively replacing high-carbon petroleum based fuels.
One of the report’s main authors David Layzell said: “To stimulate the energy transition, it is important to develop measures focusing not only on energy supply but also on energy demand.”
It also suggests that offering citizens and companies low-carbon options could help to speed up the process.
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