The global climate problem is triggering tectonic political, financial, technological and social revisions.
Forward-thinking countries and companies are turning away from fossil fuels and are moving towards sustainable alternatives. To avoid stranding the Canadian economy, we require political leaders who understand these trends and commit to setting aside the fossil fuel sector while seizing the benefits of the global green-energy transition.
Here’s what we could do instead:
- Join the decarbonization race
Around the world, countries like New Zealand and Costa Rica are fighting to become the first zero-carbon economy. Iceland and Norway have joined a growing list of countries powered only by renewable energy.
- Follow the money
Investors are rapidly abandoning fossil fuels as the sector’s profitability is called into question. The World Bank, HSBC, BNP Paribas, and ING started by pulling money out of future fossil fuel plans.
- Embrace change
Rapid technological developments in renewable energy like wind and solar, as well as in electrifying transportation are challenging fossil fuels. World wide investors have been funding more in renewable-energy production than fossil fuels.
- Vote for a climate-safe future
We need visionary thinking from political parties, but the two leading parties fall far short in this attribute. While the Liberals have taken steps in confronting the climate crisis by implementing a carbon price, phasing out coal factories and proposing clean-fuel expectations and regulations on methane, they were defeated by growing emissions from the expanding oil and gas sector, which the Liberals continued to foster. Case in point: not even 24 hours after announcing a climate emergency, Trudeau’s cabinet approved the Trans Mountain pipeline expansion to triple the pipeline’s capacity to transfer bitumen from Alberta’s oil sands.