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Net Zero: How we get there matters – Toronto Sun

Publishing date:

Nov 09, 2022  •  51 minutes ago  •  4 minute read

The Canadian Chamber of Commerce’s Net-Zero Council has released a review of the government’s net-zero plan and a set of recommendations intended to bridge the gap between vision and achievement.
The Canadian Chamber of Commerce’s Net-Zero Council has released a review of the government’s net-zero plan and a set of recommendations intended to bridge the gap between vision and achievement. Photo by GETTY IMAGES

By Perrin Beatty, Heather Chalmers and Matthew Wetmore

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2022 has offered a stark reminder of the urgency of the climate crisis, as surging heat waves and historic floods marred a summer that was supposed to herald a “return to normal” following a brutal pandemic.

The conspicuous effects of a warming climate underscore the urgent need for a bold and detailed plan to meet our emissions reductions milestones — one that leverages the ingenuity and innovation of Canadian businesses to deliver on our targets.

Earlier this year, the federal government released its 2030 Emissions Reduction Plan. The government has acted boldly in setting aggressive 2030 targets that reflect the urgency of the climate crisis. They have also shown leadership in making new commitments to increase renewable energy, modernize distribution grids and deploy carbon capture, utilization and storage (CCUS) technologies.

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While these are positive first steps, Canada’s business leaders are concerned that the federal government’s plan lacks sufficient detail and accompanying fiscal support to set them on the path to net-zero by 2050.

Members of the Canadian Chamber of Commerce’s Net-Zero Council, which brings together more than 20 businesses that have committed to decarbonize their operations by 2050 or sooner, have released How We Get There Matters: Establishing a Path to Net-zero in Canada, a review of the government’s plan and a set of recommendations intended to bridge the gap between vision and achievement.

In evaluating the plan, we must consider the sheer scale of the challenge ahead. Since 2005, despite considerable efforts, Canada has only managed to reduce emissions by nine megatonnes of carbon dioxide equivalent in 17 years. The country has also yet to meet any of its previous climate commitments. Yet, between 2023-2030 the government aims to reduce emissions by 287 megatonnes — 32 times more than what we’ve accomplished since 2005 — and in less than half the time.

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Setting ambitious targets is one thing but delivering on them is another. The current challenge demands a plan that is matched by strong funding, program and policy support. The private sector must do its part, but businesses need clarity to maximize their contribution to Canada’s decarbonization efforts.

The Net-Zero Council’s report offers four core recommendations to support Canada’s path to net-zero, while strengthening Canadian business, enhancing investment potential, creating jobs and leveraging regional strengths, not stifling them.

First, the 2030 roadmap must firmly position Canada for 2050. The current plan is very clear on the desired outcomes in terms of emissions reductions, but we need equal clarity on what is required to deliver these outputs. For example, the government should clearly define “net-zero aligned investment,” facilitate consistent reporting of net-zero spending across all levels of government, and work across governments, the private sector and other organizations to support the development of investment plans.

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Most importantly, the federal government’s own level of net-zero funding must substantially rise — the report estimates current federal government spending at about 10 to 20 per cent of what is required across the public and private sector combined. While the recent Fall Economic Statement made new announcements to support decarbonization, there still a significant spending deficit.

Second, Canada needs to evaluate the global impact of its plans. To ensure a holistic picture of emissions, Canada should track its global supply chain emissions and implement a strategy that incentivizes reductions in supply chains, leveraging the economic competitiveness of our private sector to maximize our global impact.

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Third, Canada’s climate plan must empower our workers to lead the change. Canada’s labour force must possess the right skills to lead our new sustainable industries. A net-zero plan that promotes Canadian economic growth must include a detailed net-zero skills plan that would provide guidance that all levels of government and other key stakeholders, such as education and training institutions and employers, can align behind and use to develop their plans and strategies.

Finally, delivering an orderly and inclusive transition is critical. We cannot reach net-zero without continued public support. We must have a plan to fund decarbonization fairly by maintaining transparency around household impacts, developing a public engagement strategy and documenting the expected impacts of net-zero policies to show how different communities would be affected.

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The government should be commended for setting strong 2030 targets. But how we get there matters. Canada’s business community needs Ottawa to develop a cohesive plan that supports all Canadians, in every region of the country. Collaboration between the public and private sectors is vital for ensuring Canada’s workforce is equipped to succeed, clean technologies are deployed, and our collective economic and environmental ambitions are realized.

Heather Chalmers is president and CEO of GE Canada, and Matthew Wetmore is national managing partner, clients and markets at PwC Canada. Both serve as co-chairs of the Canadian Chamber of Commerce’s Net-Zero Council. Perrin Beatty is president and CEO of the Canadian Chamber of Commerce.

 

This story was provided by the Canadian Chamber of Commerce
for commercial purposes.