According to an IRENA report published last year, the renewable energy industry supported more than 9 million jobs in 2014. With this investment, Alberta continues its path to building a sustainable and resilient economy.
In fact, the province’s economy is heavily reliant on oil production, since its oil sands represent the third largest oil reserves in the world after Venezuela and Saudi Arabia. Alberta is also among the biggest producers of natural gas in the world.
However, in the last decade it has taken the right steps toward a low carbon economy, being among the first jurisdictions in North America to introduce a carbon tax – recently expanded to a new economy-wide price on carbon.
In a move to accelerate its transition to the inevitable low carbon economy, Alberta has also announced that it will replace two-thirds of coal-generated electricity with renewables by 2030.
“What matters to Alberta is ensuring that our energy economy is resilient for the challenges that come ahead,” saidShannon Phillips, Minister of Environment and Parks, Alberta, in an exclusive Climate TV interview during last COP21.
“Certainly, that’s why we’ve undertaken very ambitious policies with respect to a price on carbon, our methane management strategy, our performance standards for large industrial emitters and our efficiency strategy.”
Today’s news further enhances the move of the biggest oil-producing province toward clean energy, because, as the Minister puts it, “we know that Alberta can lead again”, demonstrating the pivotal role of sub-national governments in spurring a clean revolution.
Minister Phillips adds: “We must take action at all levels in combatting climate change – federally, provincially and locally. This investment will spur economic growth and help with the transition to cleaner sources of electricity, which will protect our health.”
SOURCE: CLIMATE GROUP