Canadian businesses continue to join the Net-Zero Challenge to drive climate action
From: Environment and Climate Change Canada
News release
November 9, 2023 – Ottawa, Ontario
Businesses across Canada understand the need to develop cleaner ways of doing business—not just to reduce emissions, but also to be more resilient and competitive in the 21st-century, low-carbon economy.
Today, the Honourable Steven Guilbeault, Minister of Environment and Climate Change, participated in the Canadian Climate Institute and the Net-Zero Advisory Body’s third annual pan-Canadian climate conference, “Building Momentum Toward Net Zero”, in Ottawa, Ontario. During the conference, Minister Guilbeault provided an update on the Net-Zero Challenge. Since its launch last year, the response from the private sector has been incredible. There are now over 130 participants from Canadian businesses spanning across many sectors of the economy, including energy, transportation, construction, and heavy industry, as well as information technology, retail, and more, who are all committed to net-zero emissions by 2050.
Recent additions to Canada’s Net-Zero Challenge include: Pomerleau Inc., Aéroports de Montréal, Colliers Project Leaders, Deloitte, WSP in Canada, and Canada Lands Company Limited, among others. Officially launched in August 2022, the Net-Zero Challenge is an initiative that encourages companies to develop and implement credible and effective plans to transition their facilities and operations to net-zero emissions by 2050.
The Net-Zero Challenge is a unique made-in-Canada program. Businesses that join are supported by Environment and Climate Change Canada in their net-zero planning process through a variety of means, including technical guidance that draws on international and national guidance, protocols, and best practices.
In joining, participating companies build public and investor confidence in their net-zero plans, have access to a community of practice of their peers, receive public recognition of their commitments, and benefit from simple reporting requirements that align with a company’s existing reporting processes to minimize duplication. Companies can also now use participation in the Net-Zero Challenge to align with federal procurement and funding processes. This includes the Treasury Board of Canada Secretariat’s Standard on the Disclosure of Greenhouse Gas Emissions and the Setting of Reduction Targets, and Innovation, Science and Economic Development Canada’s Net Zero Accelerator initiative.
Quotes
“By joining the Net-Zero Challenge, Canadian companies are significantly contributing to Canada’s goal of net-zero emissions by 2050. The high level of interest in the program continues to grow, and we must maintain the momentum that has developed in making net-zero planning a default business practice. We have more than 130 companies that have joined the Net-Zero Challenge since its launch in August 2022. Together, we are stimulating innovation, demonstrating corporate responsibility, and ensuring their long-term competitiveness. Net-Zero Challenge participants are spearheading Canada’s clean industrial advantage and the path toward a sustainable future.”
– The Honourable Steven Guilbeault, Minister of Environment and Climate Change
Quick facts
Getting Canada to net-zero emissions by 2050 will require collaboration and innovation across all parts of society, including the private sector. Unlocking further emissions reductions and planning now for a net-zero future is essential for Canada to remain competitive in an increasingly low-carbon, global economy.
The Net-Zero Challenge provides a rigorous framework to support companies in their net-zero planning process. It takes into account that net-zero planning is an ongoing process and will be different for each participant. It also seeks to align with existing reporting requirements and minimize duplication.
As committed to earlier this year, Environment and Climate Change Canada continues to consult and draft guidance to expand the program to local governments and public entities.
This information was sourced directly from Canada.ca and full credit goes to them. To see the full source please visit this link.