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Canada s Largest Oil Sands Producers Announce Unprecedented Alliance To Achieve Net Zero Greenhouse Gas Emissions

Canada s Largest Oil Sands Producers Announce Unprecedented Alliance To Achieve Net Zero Greenhouse Gas Emissions
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Canada’s main stock index rose on Friday, as energy stocks gained on higher crude prices and upbeat economic data bolstered optimism over an economic rebound.

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Canadian oil sands producers commit to net-zero

Canadian oil sands producers commit to net-zero Jun 10, 2021 4:00:pm Summary by: Dale Lunan Posted in: Canadian oil sands producers commit to net-zero Five of Canada’s largest oil sands producers said June 9 they would embark on a path to net-zero by 2050, utilising a range of technologies to slash greenhouse gas (GHG) emissions. The Oil Sands Pathways to Net Zero initiative is a collaboration of Canadian Natural Resources Limited (CNRL), Cenovus Energy, ExxonMobil affiliate Imperial, MEG Energy and Suncor Energy, which collectively account for 90% of Canada’s oil sands production and contribute about 68mn mt/yr of CO 2 to Canada’s GHG inventory. Under the Pathways initiative, they plan to lower their overall emissions by 22mn mt/yr by 2030 and cut another 25mn mt by 2040 before reaching net-zero by 2050.

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Canadian Natural Resources Limited: Canada s Largest Oil Sands Producers Announce Unprecedented Alliance to Achieve Net Zero Greenhouse Gas Emissions

(0) Calgary, Alberta (Newsfile Corp. - June 9, 2021) - Canadian Natural Resources, Cenovus Energy, Imperial, MEG Energy and Suncor Energy formally announced today the Oil Sands Pathways to Net Zero initiative. These companies operate approximately 90% of Canada s oil sands production. The goal of this unique alliance, working collectively with the federal and Alberta governments, is to achieve net zero greenhouse gas (GHG) emissions from oil sands operations by 2050 to help Canada meet its climate goals, including its Paris Agreement commitments and 2050 net zero aspirations. This collaborative effort follows welcome announcements from the Government of Canada and the Government of Alberta of important support programs for emissions- reduction projects and infrastructure. Collaboration between industry and government will be critical to progressing the Oil Sands Pathways to Net Zero vision and achieving Canada s climate goals.

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