CALGARY — Chris Severson-Baker, Alberta director at the Pembina Institute, made the following statement in response to last week’s Conference Board of Canada study of the economic impact of investments by Alberta's Climate Change and Emissions Management Corporation:
"Alberta's Climate Change and Emissions Management Fund — or tech fund — is a key component in what should be a portfolio approach to addressing climate change. The fund supports medium and long-term emission reduction technologies. The Conference Board of Canada report confirms there are economic benefits derived from investing in research and development.
"The problem is we aren't seeing significant reductions in greenhouse gas emissions right now because it's so much cheaper for companies to simply pay into the tech fund.
"One of the missing pieces of Alberta’s climate change portfolio is a price on carbon high enough to encourage companies to invest in reducing emissions. Direct investment in energy efficiency, carbon abatement and renewable energy projects could lead to even bigger economic benefits.
"For example, every dollar the fund put into the Blackspring Ridge wind farm project near Vulcan, Alberta, spurred $60 in investment from industry, compared to $2.93 for all other projects. More importantly, Blackspring Ridge — which received just four per cent of money allocated — is projected to account for 40 per cent of the emissions reductions realized by the initiatives receiving tech fund dollars.”
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Contact
Kirk Heuser
Communications Lead
Pembina Institute
587-585-4522
Background
Blog: Four ways Alberta could turn its climate record around
