Energy NL: 2030 Emissions Reduction Plan

The Government of Canada released the 2030 Emissions Reduction Plan on March 29, 2022, which included emission reduction targets for the oil and gas sector and support for renewable energy. Energy NL looks forward to learning more about and contributing to the plan through the upcoming consultation process.

“I was extremely pleased that lower carbon oil was referenced by the Prime Minister during his
announcement of the plan and that lower carbon oil is also referenced within the plan. While there is
a consultation to come with the industry, I believe that was a signal that the oil offshore Newfoundland
and Labrador will have a role to play as our oil is a lower carbon product that should be used to
help meet global demand. When combined with our potential for wind, hydrogen, and carbon
capture, utilization, and storage, Newfoundland and Labrador will be at the forefront of the energy
evolution.”

• Energy NL CEO, Charlene Johnson

The 2030 Emissions Reduction Plan outlines a sector-by-sector path for Canada to reach its
emissions reduction target of 40 percent below 2005 levels by 2030 and net-zero emissions by 2050.
The plan includes a projected contribution from the oil and gas sector of emission reductions to
31 percent below 2005 levels in 2030 or 42 percent below 2019 levels. The 2030 Emissions
The reduction plan also includes developing a carbon capture, utilization, and storage (CCUS) strategy,
funding to support achieving the broad emission reductions targets, and supporting renewable
energies such as electricity.

“While there have been preliminary discussions and there is work to come, I am pleased to see
recognition of our valuable low carbon resource. Getting to net-zero does not mean zero oil or gas,
at least not for the foreseeable future. There is going to be a varied energy mix at play globally and
oil and gas will play a leading role. No doubt the federal government plan is ambitious, but so are
our members and I believe we will be a valuable contributor to the global energy mix.”
• Energy NL CEO, Charlene Johnson

Energy NL represents approximately 460 member organizations worldwide involved in the
Newfoundland and Labrador energy sector. Members are active in all areas of the supply and service
sector and include a diverse representation of businesses that range from offshore supply vessels and
helicopters, carbon reduction and sustainable technologies, health and safety equipment and
training, and engineering solutions and fabricators, to law firms and human resource agencies.