Alberta is targeting an additional $33 million from the industry-supported Emissions Reduction Alberta to aggressively reduce methane emissions as outlined under its Climate Leadership Plan.
Emissions Reduction Alberta (ERA), formerly the Climate Change and Emissions Management Corporation, will use the money to seek out and advance technologies that support Alberta’s commitment to reduce methane emissions by 45 per cent by 2025 under its Climate Leadership Plan.
“Innovation is vital to the global issue of climate change. This investment in innovation supports our climate leadership goals. By developing the next generation of innovative and clean technology, we build a sustainable and diversified economy that attracts investment, creates jobs, expands market access and reduces greenhouse gas emissions.”
ERA is earmarking a total of $40 million to help advance technologies to reduce methane emissions in Alberta. Funding for this comes from today’s announcement and ERA’s existing budget. ERA will provide successful applicants up to a maximum of $5 million. Projects will be selected through a competitive process. The funding targets medium- and long-term opportunities to reduce methane emissions in the oil and gas, agriculture and landfill sectors as well as projects to improve methane detection and quantification.
Methane is a potent greenhouse gas with a global warming potential more than 25 times that of carbon dioxide. Reducing methane emissions by 45 per cent by 2025 is a key pillar of the Climate Leadership Plan. This initiative has been praised by the president of the United States and all of North America has now adopted a similar policy.
Government provides grants to ERA to enable it to fulfil its mandate. This funding comes from Alberta’s large emitters who choose to pay into the Climate Change and Emissions Management Fund as a compliance option if they are unable to meet emissions reduction targets.
“ERA is continuing our work with industry and other stakeholders to identify, invest in and accelerate ideas that reduce greenhouse gas emissions. We are advancing the technologies Alberta needs for a lower carbon future and that industry needs for continued economic success.”
“New technologies are essential to achieve the outcomes we seek in the Alberta Climate Leadership Plan. By seeking out projects to reduce methane emissions, Alberta is maintaining momentum and demonstrating a commitment to take action on innovation.”
The new name makes the organization’s mandate clear and reflects ERA’s key role in Alberta’s climate leadership efforts.
Since 2009, ERA has committed more than $300 million to more than 100 projects with a combined value of more than $2 billion. For every dollar ERA invests, more than another $5 is also invested.
ERA works with industry, government and the innovation community to identify priorities for funding that support government policy direction. This includes future direction that will emerge from the Climate Technology Task Force, the Oil Sands Advisory Group and Energy Efficiency Alberta.
“Today’s announcement reiterates the shared commitment by government and industry to decrease GHG emissions through innovation and the consistent development and application of technology. The world will benefit from clean Canadian oil and natural gas.”
“By strategically investing in the development of cutting-edge technologies to reduce greenhouse gas emissions, together we have the opportunity to demonstrate global leadership towards a low carbon future.”
“ConocoPhillips’ Systematic Energy Efficiency Program supported by CCEMC, was a five-year project that resulted in emission reductions of over 127,000 tonnes of carbon dioxide equivalent per year. In other words, the equivalent of taking approximately 27,000 cars off the road. This energy efficiency program is one example of how policy incentives have accelerated the deployment of low-emission technology throughout our operations. CCEMC – and now Emissions Reduction Alberta – is a key partner in tackling climate change and we look forward to what we can do together to continue making tangible progress in emissions reduction.”
“Seal Well welcomes this announcement. Small businesses like ours are excited about the opportunities presented as a result of Alberta’s climate leadership and this new funding opportunity will help innovators to advance our technology solutions.”