VICTORIA, B.C. - Sonia Furstenau, leader of the BC Greens and MLA for Cowichan Valley released the following statement in response to the new International Energy Agency (IEA) roadmap to achieve Net Zero emissions by 2050. The report’s analysis of natural gas shows that a significant decrease in LNG production is necessary in order to achieve the emissions reductions required to reach the Paris Agreement aim of limiting global warming to 1.5 degrees Celsius above pre-industrial levels.
“We already knew that the government’s plan to give billions of dollars in subsidies to the fossil fuel industry is bad for the climate. The IEA report shows that it’s bad for the economy too.
“This landmark report that will inform how the world achieves Net Zero emissions shows a clear decline in the North American natural gas industry, since the gas is more costly to produce and transport. The report suggests that private finance will now need to recognize that these heavily subsidized megaprojects are at risk of becoming stranded assets. It is deeply reckless for this government to invest billions in LNG, which clearly represents a serious climate and financial risk.
“The BC NDP have yet to show how they will close the gap in our emissions reductions plan - a gap that is caused by their misguided pursuit of fracking and LNG. They just put forth a budget that suggests they expect our emissions to rise. If they continue to double down on this backwards thinking, B.C. will be left behind as the rest of the world seizes the opportunities from the transition to a Net Zero economy.”
The IEA is an intergovernmental organization that coordinates collective global responses to energy issues.
B.C. Green Caucus
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