Canada’s move to a low-carbon economy will be ‘a big adjustment for many industries,’ Trudeau tells mining conference


Prime Minister Justin Trudeau said the government is asking business and Indigenous leaders for advice as it crafts a plan for achieving its 2030 and 2050 emissions targets.

Mr. Trudeau said in his speech Monday to a mining conference in Toronto that the government will be seeking input “in the coming year” on how Canada should transition to a low-carbon economy.

Business and environmental groups alike have taken issue with the slow pace the Prime Minister has set for overhauling his government’s climate-change plans, but Mr. Trudeau’s speech did not indicate a desire to move any faster.

During last year’s campaign, the Liberals acknowledged they didn’t have the full plan for reaching net-zero emissions by 2050, saying they first needed to win the election. More than four months after their re-election, they are just starting to decide on the consultation framework that will lead to an updated climate plan.

Mr. Trudeau’s speech Monday addressed the broad theme of an economy in transition, pointing out that Larry Fink, CEO of the world’s largest asset manager, BlackRock Inc., announced this year that the company will be placing climate change as a key factor in its investment decisions.

“Larry acknowledged that climate change is fundamentally reshaping finance, just as it is causing companies, sectors and entire countries to reassess their core assumptions about what tomorrow holds,” Mr. Trudeau said.

“Our government recognizes that moving towards a low-carbon economy is a big adjustment for many industries, including yours. This transformation won’t happen overnight,” Mr. Trudeau said, adding Ottawa will help the industry through the changes.

Read full article here.

Bill Curry and Marieke Walsh – Globe and Mail – March 2, 2020.

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