Clean Prosperity President and CEO Michael Bernstein made the following statement in response to the memorandum of understanding (MOU) announced today by the Government of Canada and the Government of Alberta:

“Today’s agreement holds promise of being the first step in a historic policy reset. By prioritizing strong carbon markets, Ottawa and Alberta are starting down the right path to grow Canada’s low-carbon economy and reduce emissions.

Today’s agreement holds promise of being the first step in a historic policy reset. By prioritizing strong carbon markets, Ottawa and Alberta are starting down the right path to grow Canada’s low-carbon economy and reduce emissions.

Michael Bernstein, President and CEO, Clean Prosperity

“The MOU could create the enabling conditions for remaking Canada into a global energy superpower. It also offers a big potential win for the climate. 

“This agreement is a sign that we could finally be moving beyond the long-running disagreements between Ottawa and the provinces over climate policy, and charting a pragmatic path to achieve our climate goals while also strengthening Canada’s economy.

“Today’s announcement sets the stage, but the success of this bargain very much depends on details still to be agreed, and their implementation. We are encouraged to see commitments to strengthen Alberta’s TIER system, which should drive industrial decarbonization and low-carbon investment.

“An essential part of the MOU is the commitment to a financial mechanism that will ensure that both Alberta and Ottawa maintain their long-term commitments to industrial carbon pricing and thereby deliver much-needed certainty to industry.

“To turn this MOU into shovels in the ground, that financial mechanism should take the form of carbon contracts for difference offered jointly by the federal and Alberta governments. These contracts are the insurance policy that will de-risk tens of billions in low-carbon investment by giving investors confidence in the durability of industrial carbon pricing.”

For more information: media@cleanprosperity.ca

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