The pledge drew praise from business leaders, saying it would put pressure on other international oil companies and resource producers to set similar targets
“This is a different challenge,” said Al Reid, director of Oil Sands Pathways and executive vice-president of stakeholder engagement at Cenovus.
The five companies also laid out interim targets that included 22 MT in cuts by 2030, an additional 25 MT by 2040 and 21 MT by 2050.Article content “I think there’s a huge potential risk in being a first mover but I think they’ve done it boldly, they’ve done it collaboratively and in a way that I think will yield some dividends for them,” Legge said.Article content
To reach the first milestone in the oilsands, the group of companies “will focus on building out a carbon capture network in the oilsands” that will include a carbon pipeline to gather sequestered CO2 from 20 oilsands facilities and ship that carbon to a storage facility in Cold Lake, Alta.
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