Overview

Argus provides key insights on how global climate policies will affect the global energy and commodity markets. We shine a light on decisions made at UN Cop meetings, which have far-reaching effects on the markets we serve. Progress at Cop 30 in Brazil will be crucial in transforming ambitions into actions aligned with the goals of the Paris Agreement. Countries must produce new climate plans this year.

Follow the key developments in energy transition field with our Net zero page and keep up to date with ongoing coverage of these issues by following Argus Media on LinkedIn and on X.

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News
18/07/25

Brazil launches climate mitigation strategy plan

Brazil launches climate mitigation strategy plan

Sao Paulo, 18 July (Argus) — Brazil's environment ministry issued a plan to reduce greenhouse gas emissions (GHG) through seven guidelines and mitigation targets that will be measured every three years as of 2024. The strategy is part of a larger project known as Plano Clima that seeks to promote energy efficiency, low-carbon agriculture and cattle raising practices, green hydrogen supply and wider use of renewable fuels. Each of the seven sectors included in the national strategy for mitigation plan issued on Friday will follow specific guidelines with targets, action plans, cost projections, financing pathways, monitoring and assessment. Sectors include agriculture and cattle raising, nature conservation, cities and urban mobility, energy and mining, industry, solid waste and effluents, as well as transport, all aligned with another strategy plan to employ climate adaptation. Mitigation action plans will set targets from 2024-27, 2028-31 and 2032-35, the ministry said. All documents will be available for public consultation from 28 July-18 August. The country's emissions come mostly from deforestation and agribusiness activities, which are ahead of burning fossil fuels in the transport and industry sectors, according to the environment ministry. Early in the week, the US Trade Representative (USTR) launched an investigation to determine if Brazil's illegal deforestation undermines the competitiveness of US timber and agricultural industries . National deforestation fell by 32pc in 2024 from a year before, according to space institute Inpe. But Brazil also scorched an area greater than the size of Italy in 2024 , according to environmental network MapBiomas. Brazil has set a target of ceasing deforestation, both legal and illegal, by 2030, as well as to reach net zero emissions by 2050. By João Curi Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

News

India’s clean fuel aim falls short of actual generation


18/07/25
News
18/07/25

India’s clean fuel aim falls short of actual generation

Mumbai, 18 July (Argus) — India has reached its goal to have 50pc of its installed power generation capacity based on non-fossil fuel sources — but faces challenges in translating the new capacity into actual power generation, market participants told Argus . India reached the goal in June this year — five-years ahead of the 2030 target it had set under the Nationally Determined Contributions (NDC) to the Paris Climate Agreement. But its reliance on coal and gas continues. India relies on thermal power generation to meet base load power demand with coal-fired plants contributing over 70pc of the total energy generated. Non-fossil fuel sources, including renewables, nuclear and hydro power generation account for only 28pc of electricity generation, government data show. India's installed capacity of non-fossil fuel sources, that includes renewables, reached 234GW as of 30 June, while nuclear power reached 8.7GW, making up half of India's power generation capacity of 484.4GW in June, according to power ministry data. Renewables and nuclear power generation stood at 195GW and 8.1GW, respectively, during the same time last year. India's overall power generation was lower this year falling by 5pc on the year to 159.67GW in May due to an early onset of monsoon , latest government data show. Electricity generation data for June was not yet available. Power generation from non-fossil fuel sources showed an uptick this year, as against thermal power generation. (See table) Continued dependence on coal Despite the rise in non-fossil fuel sources, installed capacity of thermal power generation including coal and natural gas, remained stable this year at 242GW as of 30 June compared with 242.9GW last year, on the back of a decline in gas-fired power generation, power ministry data show. India has temporarily shut 4.4GW of gas-fired power capacity from April due to weak domestic gas supply and elevated import prices. Interestingly, coal-fired power generation capacity showed an uptick of 4GW at 214.7GW as of 30 June, compared with 210.9GW last year, the data showed. India had approved about 15GW of new coal-fired power capacity last year — the second-largest volume addition globally for coal-fired power generation after China. India's rising use of solar and wind power also faces grid integration challenges due to the intermittent nature of the generation. The government has been working on enhancing storage via battery systems and smart grids to address these issues. By Rituparna Ghosh India's electricity generation in GW Source May-25 May-24 Diff Thermal 114.1 127.8 -10.7 Nuclear 5.1 4.5 15.5 Hydro (Large) 13.3 12.6 5.0 Renewables 26.6 22.5 18.2 Bhutan Import 0.6 0.1 338.5 Total 159.7 167.5 -4.7 Source: Central Electricity Authority Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

News

US probes Brazil deforestation as trade issue


16/07/25
News
16/07/25

US probes Brazil deforestation as trade issue

Sao Paulo, 16 July (Argus) — The US Trade Representative (USTR) launched an investigation into illegal deforestation in Brazil to determine if it undermines the competitiveness of US timber and agricultural industries. The investigation will "seek to determine whether [the Brazilian government's] acts, policies and practices" related to illegal deforestation "are unreasonable or discriminatory and burden or restrict US commerce," namely US timber and agricultural producers. Brazil is a major producer of timber and agricultural goods, but much of that growth has been through widespread environmental destruction, including in the Amazon rainforest, and coversion of that land to grow crops. Brazil has taken measures to combat the deforestation, however, leading to a 32pc decline in deforestation in 2024 from a year prior, according to its space institute Inpe. It also reduced wildfires in the first half of 2025 by 66pc from the same period a year before , according to its environment ministry. The country has set a goal of eliminating deforestation by 2030. Brazil's federal government has also worked to strengthen funds to combat deforestation and climate change, such as the Amazon fund and the Climate fund . The latter was set up in 2008 but suspended in 2019 during the presidency of Jair Bolsonaro, a climate skeptic. The current administration has since reinstated it. Brazil's current federal administration has also put environmental issues at the forefront of its policies , seeking to become a leader in that area. This includes highlighting the issues during its hosting of the G20 summit last year , the Brics summit earlier this month, and hosting the UN Cop 30 climate summit in November. But some government initiatives — such as the push to drill the environmentally-sensitive equatorial margin — have drawn backlash from climate groups . An environmental licensing bill currently held up in the lower house is also receiving criticism from environmentalists and the environment ministry because it exempts some sectors, such as forms of agriculture that opening large areas for crops or cattle, from needing to obtain environmental licenses. Climate agency Observatorio do Clima called it "the largest legal setback since the creation of Brazil's constitution." Deforestation will be one of the country's flagship issues during the Cop 30 summit, including promoting the Tropical Forest Forever Facility (TFFF) initiative, a fund to preserve global tropical forests. USTR's investigation comes a week after US president Donald Trump threatened to impose a 50pc tariff on imports from Brazil as of 1 August, citing both unfair practices by Brazil and the ongoing trial of Bolsonaro , which he called "a witch hunt". The investigation will also probe the access of Brazilian ethanol into the US market , digital trade and electronic payment services, anti-corruption interference and intellectual property protection. By Lucas Parolin Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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EU states to reach stance on 2040 climate goal in Sep


16/07/25
News
16/07/25

EU states to reach stance on 2040 climate goal in Sep

Brussels, 16 July (Argus) — EU member states' position on the bloc's 2040 climate target should be finalised on 18 September, after a "very tight process", Danish climate and energy minister Lars Aagaard said today. "There are also some in this room who think that the answer to competitiveness challenges is to abandon climate targets. That is not what I hear a majority of European countries want," Aagaard told the European Parliament's energy committee today. Aagaard is overseeing the process, as Denmark holds the six-month rotating EU council presidency until the end of the year. The European Commission earlier this month formally proposed a 2040 goal of a 90pc cut in greenhouse gas (GHG) emissions, from 1990 levels. The bloc will then use the 2040 target to submit a climate plan, known as a nationally determined contribution (NDC), for a timeframe to 2035, to UN climate body the UNFCCC. Aargaard will need parliament's approval of the update — the 2040 target — to the bloc's 2021 climate law. But Czech ECR conservative Alexander Vondra referred to voices that see the commission's proposed 90pc net GHG cut as "too draconian". Vondra also called for more flexibility in the use of international carbon credits under Article 6 of the Paris Agreement. The commission proposes limiting their use for domestic reductions to only 3pc of 1990 GHG emissions. "This 3pc is good for a couple of multinationals, some richer states. Poor states, small companies have no chance. Are you willing to compromise, to give more flexibility?" Vondra asked. Former environment committee chair Pascal Canfin called for robust "flexibilities" when using international carbon credits. "Robust means that it cannot be within the ETS. It has to be negotiated by the commission itself and not having 27 [member state] parallel negotiations," Canfin, a French liberal Renew member, said. Aagaard did not expand beyond previous statements about "general support" among member states on Article 6 credits, and the need to maintain integrity and credibility. He added that EU states have questioned the "how" and not the "why" of the flexibility mechanism. "And then, of course, there is a discussion between the member states in relation to the volume," Aagaard said. Spanish Patriots member Hermann Tertsch said his group "will also monitor parliament's timetable, raising concerns about possible deliberate delays, as the group explicitly expressed resistance to the bill." The far-right group opposes a 90pc reduction target for 2040 but has been allocated the legal file. Any delay to the 2040 target would raise questions about the timing of the bloc's NDC submission that itself is to be derived from the 2040 target. The NDC has to be submitted ahead of the UN Cop 30 climate conference in Belem, Brazil, in November. By Dafydd ab Iago Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

News

UK must accelerate net-zero investment: Operator


14/07/25
News
14/07/25

UK must accelerate net-zero investment: Operator

London, 14 July (Argus) — The UK must accelerate investment and planning in clean energy systems over the next five years or risk falling behind its 2050 net-zero targets, the country's grid operator Neso said in its Future Energy Scenarios 2025 report. Neso outlined four stages, or "waves", of the UK's transition to a low-carbon energy system — "foundation" (pre-2025), "acceleration" (2025-30), "growth" (2030-40) and "horizon" (2040-50) — representing a timeline from early-technology deployment to full-system decarbonisation. The report identifies the 2025-30 period as a critical "acceleration wave", when the UK must significantly scale up renewables, electrify transport and heating, expand grid capacity and invest in hydrogen and carbon capture infrastructure. Neso warned that without this acceleration, the country risks falling into a high-cost, fossil fuel-dependent pathway which fails to achieve net-zero. All four stages could play out along four possible scenarios, three of which achieve the UK's climate goals by 2050 through varying combinations of electrification, low-carbon fuels, consumer engagement and infrastructure development, according to the report. A fourth scenario, described as "falling behind", reflects slower action and results in continued reliance on fossil fuels, greater costs and missed targets. Across all successful scenarios, electricity demand more than doubles by 2050, driven by the widespread adoption of electric vehicles (EVs), heat pumps and electrification in industrial processes. Installed renewable capacity must increase by at least four times, with offshore and onshore wind and solar generation providing the backbone of the future power system. In the most hydrogen-intensive scenario, low-carbon hydrogen production reaches 119 TWh/yr by mid-century, supporting decarbonisation in sectors that are harder to electrify, such as heavy industry, freight and aviation. Energy efficiency and flexible demand will play a "critical" role in balancing the system and reducing peak loads, Neso said. The operator projected active consumer participation — through measures such as smart EV charging and time-shifting of heat pump usage — could reduce peak electricity demand by over 50pc compared with unmanaged consumption patterns. Whole-system energy use could fall by 18pc if efficiency technologies and behaviour changes are fully realised. The report also highlighted the shift to a decarbonised energy system requires significant capital investment, particularly over the next two decades. Neso estimated system-wide investment will rise sharply, but notes that these costs will be offset by lower operational expenses and reduced exposure to fossil fuel markets. The report does not include full costings, but the operator committed to publishing a technical annex with financial modelling later in the year. By Timothy Santonastaso Winter 2024 typical weekly generation by hour GW Winter 2050 typical weekly generation by hour GW Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Country focus

Country focus
08/07/25

Paving Amazon road may spoil Brazil climate target

Paving Amazon road may spoil Brazil climate target

Sao Paulo, 8 July (Argus) — Brazil suspended the paving and reconstruction of the northern BR-319 highway, which would drive up deforestation and make it impossible for Brazil to meet its climate targets by 2050, according to the environment ministry. Reconstructing the highway would increased deforestation and generate 8bn metric tonnes (t) of CO2 by 2050, according to the environment ministry. This would run counter to Brazil's efforts to eliminate deforestation — both legal and illegal — by 2030, to meet its emissions reductions targets under the Paris climate agreement. A federal court decision from October 2024 allowed plans by former-president Jair Bolsonaro's administration to rebuild and pave BR-319 to move forward through a preliminary license. The federal court reassessed the case on 2 July, suspending the preliminary license for the second time. The first suspension dates back to July 2024, when a federal environmental court stopped the work under an argument of irreversible risks to the Amazon forest if the concession remained active. The 918km BR-319 connects the capitals of northern Amazonas and Rondonia states, Manaus and Porto Velho, both in the Amazon forest biome. While the preliminary license was in force, deforestation around the highway more than doubled, including in conservation areas, Brazilian climate network Observatorio do Clima said. An increase in deforestation could cut water supply to large cities in the center-south and reduce agriculture and cattle raising by interfering in the rainfall pattern, according to the ministry. It also added that 95pc of Amazon's deforestation happens within 5.5km of highways. Brazil's environmental watchdog Ibama has strengthened its monitoring in the BR-319 to prevent deforestation and other illegal practices in the surrounded areas. Ibama agents have seized tractors and power generators near Tapaua city, in Amazonas, which were used to support illegal activities in the Amazon forest, such as wood extraction. Ibama also applied R8mn ($1.46mn) in environmental fines and blocked access to 1,600 hectares (ha) of deforested areas to fight ongoing illegal activities, it said today. By João Curi Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Country focus

Brazil’s Amazon oil dilemma


23/05/25
Country focus
23/05/25

Brazil’s Amazon oil dilemma

Petrobras might win this battle, but it faces tougher environmental regulations in the future, writes Constance Malleret Rio de Janeiro, 23 May (Argus) — Brazilian state-controlled Petrobras this week moved closer to gaining authorisation to drill in a promising new oil frontier off the northern coast, but environmental watchdog Ibama has cast doubt over the future of other exploration permits there. Brazil's equatorial margin, and particularly the northernmost Foz do Amazonas basin, is Petrobras' main bet to replenishing its oil reserves — currently set to decline from the start of the next decade. The offshore region is believed to contain massive crude deposits similar to those found off Guyana, with Foz do Amazonas alone possibly holding 10bn bl of recoverable crude, according to energy research bureau EPE. But obtaining the regulatory green light to drill in this environmentally sensitive area is proving a lengthy process. Environmentalists worry about the impact oil exploration will have on the region's little-studied coral reefs, indigenous communities and ecosystems. Ibama denied Petrobras a permit to drill off the coast of Amapa state in May 2023. The oil firm promptly appealed but, two years later, the process continues. The watchdog's experts recommended it reject Petrobras' request at least twice in recent months. But mounting political pressure for approval — including from President Luiz Inacio Lula da Silva, who publicly accused the agency of working against the government — led Ibama head Rodrigo Agostinho on 19 May to approve Petrobras' emergency plan to protect fauna in the event of an oil spill. Petrobras will soon run a simulation of the plan, which it describes as the final step towards obtaining the sought-after drilling licence. Adding to the firm's urgency to secure the permit is the fact that the contract for the probe it plans to use in block FZA-M-59 expires in October. Behind the controversy over this single permit lies a politically fraught debate on whether the Brazilian government can reconcile its push for new oil exploration with its climate ambitions. In its decision this month, Ibama outlined important caveats on the future of exploration in Foz do Amazonas, where Petrobras holds the rights to five other blocks. The watchdog recalled the "challenging" environmental licensing process for drilling in Foz do Amazonas in 2013, when hydrocarbons regulator ANP first auctioned exploration rights there. Round and round Future permits are unlikely to be awarded without a more complex and lengthy environmental study, known as an AAS, which was not required from Petrobras this time, Ibama warned. That may cool oil firms' interest for the region in ANP's next licensing round, due on 17 June, when 47 blocks in Foz do Amazonas will be up for grabs. Environmental groups last month called for the upcoming oil auction to be suspended and threatened to take the issue to court. Oil proponents, including Lula and much of his government, say exploring new oil frontiers is a matter of economic and energy security, arguing that oil revenue can fund the energy transition. Critics point out that there is currently no framework in place to guarantee this. The oil industry would support a discussion on how to channel resources towards mitigation efforts, oil chamber IPB president Roberto Ardenghy tells Argus . "We are suggesting, if we find and produce oil [in the equatorial margin], a different distribution of royalties, to channel resources into fighting the real scourge of Brazilian emissions", namely deforestation, he says. Finance minister Fernando Haddad is in favour of "research" in the new oil frontier, but any hydrocarbon discoveries should not be an excuse for Brazil to delay its energy transition, he said in an interview broadcast two days before the Ibama decision. "Humanity needs to relinquish oil," he said. Brazil: Foz do Amazonas blocks Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Country focus

Brazil to walk tightrope in Cop 30 fossil fuel talks


20/05/25
Country focus
20/05/25

Brazil to walk tightrope in Cop 30 fossil fuel talks

Rio de Janeiro, 20 May (Argus) — Brazil is arguing that its developing country status allows it to consolidate its position as a major crude producer and is likely to lean on developed countries during much-awaited discussions on moving away from fossil fuels at the UN Cop 30 climate conference in November. Attempts to reach an ambitious outcome on mitigation — cutting greenhouse gas emissions — and actions to move away from fossil fuels were quashed at Cop 29 in Baku last year, and all eyes are on Brazil to bridge divides on this issue . Cop 30 president-designate Andre Correa do Lago has failed to address fossil fuels in his two letters outlining priorities for the summit, but members of the Cop 30 team have indicated the issue will be on the agenda. With geopolitical tensions and energy security questions redirecting government priorities away from the energy transition, the outlook is more challenging than when Cop parties agreed the global stocktake (GST) conclusion on fossil fuels and energy in 2023 . But Brazil is well-placed to take the lead. It is a respected player in climate discussions and has one of the cleanest energy mix — 49pc of its energy and 89pc of its electricity comes from renewables. Its own mitigation efforts prioritize slashing deforestation, which accounts for the lion's share of Brazil's greenhouse gas (GHG) emissions. Non-profit World Resources Institute Brazil describes the emissions reduction target in Brazil's nationally determined contribution (NDC) — climate plan — as "reasonable to insufficient" and notes that energy emissions are expected to increase by 20pc in the decade to 2034. Its NDC avoids any concrete steps towards winding down crude. After you The government's view on fossil fuels is that Brazil's developing country status, the oil and gas industry's importance in its economy and comparatively low fossil fuel emissions justify pushing ahead with oil production. Correa do Lago said earlier that Belem was picked as a venue for Cop 30 to show that Brazil is still a developing country, adding that any decision on oil and gas should be taken by Brazil's citizens. President Luiz Inacio Lula da Silva said that oil revenue will fund the energy transition. It is a position that has earned Brazil accusations of hypocrisy from environmentalists at home and abroad, but which also places it as a possible model for other hydrocarbon-producer developing countries. Brazil's diplomatic tradition of pragmatically balancing seemingly opposing positions could serve it well here, said Gabriel Brasil, a senior analyst focused on climate at Control Risks, a consultancy. He does not see Brazil's attempt to balance climate leadership with continued oil production as hurting its standing among fellow parties or energy investors. Civil society stakeholders hope pre-Cop meetings will help bring clarity on how Brazil might broach the fossil fuel debate. Indigenous groups, which are set to be given more space at Cop, are demanding an end to fossil fuel extraction in the environmentally sensitive Foz do Amazonas offshore basin. Meanwhile, Brazilian state-owned Petrobras moved one step closer to being authorized to begin offshore drilling there . During meetings of the UN climate body — the UNFCCC — in Panama City this week, the Cop 30 presidency will present ideas for the summit "with a focus on the full implementation of the GST". But it has to wait for countries to update their NDCs to gauge what is achievable on mitigation. Only 20 have submitted new NDCs so far, with the deadline pushed back to September. Brazil's own NDC gives some clues. It welcomes the launch "of international work for the definition of schedules for transitioning away from fossil fuels in energy systems" and reiterates that developed countries should take the lead. And a report commissioned by Brazil's oil chamber IBP and civil society organization ICS to be given to negotiators ranks Brazil as a "mover" in the transition away from oil and gas, ahead of "adapters" like India and Nigeria but behind "front-runners" Germany and the US. The research develops the idea of a country-based transition plan, using criteria such as energy security and institutional and social resilience, as well as oil and gas relevance. By Constance Malleret 2023 Brazil emissions sources Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Country focus

Brazil's energy transition spending drops in 2024


30/04/25
Country focus
30/04/25

Brazil's energy transition spending drops in 2024

Sao Paulo, 30 April (Argus) — Brazil's mines and energy ministry's (MME) energy transition spending shrank by 83pc in 2024 from the prior year, while resources for fossil fuel incentives remained unchanged, according to the institute of socioeconomic studies Inesc. The MME's energy transition budget was R141,413 ($24,980) in 2024, down from R835,237 in the year prior. MME had only two energy transition-oriented projects under its umbrella last year: biofuels industry studies and renewable power incentives, which represented a combined 0.002pc of its total R7bn budget. Still, despite available resources, MME did not approve any projects for renewable power incentives. It also only used 50pc of its budget for biofuel studies, Inesc said. Even as supply from non-conventional power sources advances , most spending in Brazil's grid revamp — including enhancements to better integrate solar and wind generation — comes from charges paid by consumers through power tariffs, Inesc said. Diverging energy spending Brazil's federal government also cut its energy transition budget for 2025 by 17pc from last year and created a new energy transition program that also pushes for increased fossil fuel usage. The country's energy transition budget for 2025 is R3.64bn, down from R4.44bn in 2024. The new program — also under MME's umbrella — has a budget of around R10mn, with more than half of it destined to studies related to the oil and natural gas industry, Inesc said. A second MME program — which invests in studies in the oil, natural gas, products and biofuels sectors — has an approved budget of R53.1mn. The science and technology ministry is the only in Brazil that increased its energy transition spending for 2025, with R3.03bn approved, a near threefold hike from R800mn in 2024. Spending will focus on the domestic industry sector's energy transition, Inesc said. Climate activists have criticized Brazil for not planning to phase out fossil fuels before, including criticisms to the first letter written by the UN Cop 30 summit's president. The country will hold the summit in November in northern Para state. By Maria Frazatto Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Country focus

Canada’s Liberals ahead on election homestretch


25/04/25
Country focus
25/04/25

Canada’s Liberals ahead on election homestretch

Both parties push the need for new investment to tap non-US energy markets, but project permitting policy is a key differentiator, writes Brett Holmes Calgary, 25 April (Argus) — Canada's Liberal party is positioning itself to receive a fourth straight mandate on 28 April, but it must first fend off a late push by the Conservatives in an election campaign that has been closely watched by the energy sector. The Liberals have benefited from the selection of a new leader in Mark Carney last month, combined with a considerable foe to rally against — US president Donald Trump and his verbal and economic attacks on Canada. While campaigning, Carney has tried to keep the focus on Trump's annexation and economic threats, but momentum has seemingly stalled. The Liberals led the Conservatives by a 42:38 margin on 24 April, but this is three points less than 10 days earlier, according to poll aggregator 338Canada. The tight race has already motivated a record 7.3mn electors to cast their vote at advance polls, and the energy industry has kept a close eye on promises made by both Carney and his challenger, Conservative leader Pierre Poilievre. Both agree that pivoting away from a hostile US is critical, and that new trade corridors to Canada's coasts are key to reaching more reliable partners. But executives from major Canadian energy companies point out that there is likely to be lower-hanging fruit that can attract investment in a country where productivity has been lagging its peers. Industry leaders have pleaded for government to "reset its policies", which Carney seems less inclined to do than Poilievre. Carney sees a future where foreign countries will demand less carbon-intensive oil and gas, meaning a proposed cap on the industry's emissions would be implemented as planned, and support for carbon capture projects would continue under a Liberal government. An overhaul of Canada's Impact Assessment Act is unnecessary, Carney says, suggesting the legislation sets major project proponents up for success because its rigour helps to avoid court battles. But the Canadian Association of Petroleum Producers (Capp) points to that legislation as the top reason why C$280bn ($200bn) of oil and gas projects were cancelled over the past decade. Repealing the law was among the "demands" Alberta premier Danielle Smith made to Carney in March, but the latter seems content to hang on to many of former prime minister Justin Trudeau's energy policies. Carney was born in Alberta , but familiarity has yet to translate into co-operative relations between federal and provincial government. Yet his desire to build new conventional energy projects marks a key departure from Trudeau. Build, baby build "I'm interested in getting energy infrastructure built," Carney said during the 18 April leaders' debate. "That means pipelines, that means carbon capture and storage, that means electricity grids." And the Liberals are prepared to use federal emergency powers, but consent from provinces would still be required. The Conservatives pitch an accelerated six-month regulatory review period to "unleash" Canada's energy so as to stand up to the likes of Trump from a position of strength. The Conservatives tout shovel-ready projects that would kick-start construction as soon as they are approved by a new government. Capp estimates that Canada has C$50bn of energy investment waiting approval. "For three Liberal terms, Canada has had the worst GDP per capita in the G7," Poilievre says. The National Bank of Canada says this primarily reflects Canada's lacklustre investment and productivity over the past decade. Canadian think-tank CD Howe Institute says this cycle can be corrected by a full overhaul of government policy, including the acceleration of permitting for major private-sector projects. Eliminating current and proposed Liberal policy would be among Poilievre's first moves to resurrect investment. Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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