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Imperial Oil Ltd
Symbol IMO
Shares Issued 575,945,886
Close 2023-09-27 C$ 84.34
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Globe says Suncor, rivals hear emissions down from 2019

2023-09-28 08:26 ET - In the News

See In the News (C-SU) Suncor Energy Inc

The Globe and Mail reports in its Thursday, Sept. 28, edition that momentum in most sectors toward meeting Canada's climate commitments is being weighed down by the oil and gas industry, says a preliminary estimate of the country's greenhouse gas emissions last year. The Globe's Adam Radwanski writes that the Canadian Climate Institute estimates show that total national emissions went up by 2.1 per cent in 2022 from the previous year. Climate Institute economist Dave Sawyer said the annual increase is "a lot smaller than we would have expected," given an unusually high rate of economic growth during a bounce-back year. The broader trajectory, Mr. Sawyer said, suggests that a combination of advances in clean technology and public policy measures has started to significantly bend the curve. He pointed to emissions being down 5 per cent from 2019. The new data set the stage for contentious measures that Ottawa is planning to address the sectors holding back progress toward the national target of a 40 per cent reduction in emissions from 2005 levels by 2030. Most notable is a regulated cap on oil and gas emissions, which the government is aiming to table this fall, against the protests of Alberta and Saskatchewan.

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