Canada Beyond Kyoto

Posted on Thursday, November 02 at 13:03 by nancymarie
Known for his pragmatism rather than alarmist speculation, Sir Nicholas, the World Bank's former chief economist, takes the purely logical argument that not taking action on climate change will be a lost economic opportunity of global proportions. By removing the emotional "save our planet" approach and focusing on the substantial financial cost of doing nothing, Sir Nicholas appeals to those who have yet to be swayed. And by focusing on the economic benefits of investing in carbon sinks, emissions trading and renewable resources, he offers Canada an opportunity to lead the way. From a Canadian perspective, though, is it not the case that a transition away from fossil fuels would represent a threat to Canada's economic future, given that so much of our economy is dependent on coal, oil and gas resources? Well, no. Canada does have major oil and gas projects on the go. The Mackenzie Valley Pipeline is likely to go ahead, we will continue to develop the tar sands on a major scale, and coal will very much be part of the power solution in provinces such as Saskatchewan and Alberta. But that does not mean we cannot do something about the carbon emitted from these projects and, by doing so, ensure our role as a global leader in carbon solutions, not problems. We can develop the technologies for redirecting carbon emissions from the air into the ground (known as carbon capture and storage). What makes this so interesting from a Canadian perspective is that we have an opportunity to be a world leader in these technologies. Carbon capture and storage will be a critical key to the global climate- change puzzle, particularly in the economies of major developing countries, such as India and China, that continue to rely on coal for development. more:

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