Clean Prosperity President and CEO Michael Bernstein made the following statement about changes to Alberta’s Technology Innovation and Emissions Reduction (TIER) Regulation, announced today by the Alberta government.

“The changes to Alberta’s industrial carbon pricing system announced today leave the door open to a long-awaited grand bargain between the provincial and federal governments on climate and energy policy.

“At the same time, we have some questions and concerns about the announced changes to TIER. In particular, the direct investment option appears to give companies credit for spending rather than results. It also risks further eroding credit values, which are the key driver of low-carbon investment. 

“Instead, Ottawa and Alberta should focus on advancing the reset in their broader energy and climate relationship. This reset should include a commitment by the Alberta government to strengthen its carbon market system, unleashing billions of dollars worth of low-carbon investment in the province. Among these investments is the Pathways Alliance carbon capture project, which will protect the long-term competitiveness of Alberta’s oil industry.

“Ottawa and Alberta should focus on advancing the reset in their broader energy and climate relationship. This reset should include a commitment by the Alberta government to strengthen its carbon market system, unleashing billions of dollars worth of low-carbon investment in the province.”

Michael Bernstein, president and chief executive officer, Clean Prosperity

“For its part, the federal government should cancel unnecessary regulations, such as the oil and gas emissions cap, and continue to provide support for major projects that will benefit Alberta.

“Together, the federal and provincial governments can signal their commitment to leveraging strong carbon markets to make Alberta into a diversified low-carbon energy powerhouse. They should sign joint carbon contracts for difference to solidify their commitment, de-risk big low-carbon projects, and start building.”

Contact: media@cleanprosperity.ca

^{Image credit: Stefan Botezatu}