RNAO submission_oil and gas GHGs_Feb. 5

Introduction Recognizing the role that the oil and gas sector plays in our national economy and the dependence that many Canadians have on the sector for their livelihood, we applaud the government for moving forward with a regulation to cap and cut greenhouse gas (GHG) emissions from the sector. [...] Yet, Canada still lacks the regulation needed to cap emissions from its oil and gas sector, despite the promise made by the prime minister and the federal minister of the environment and climate to put such a regulation in place by the end of 2023. [...] COP 28 and the global stocktake Just this past December, the United Nations Climate Change Conference (COP28) closed with the first ever “global stocktake”, per a requirement in the Paris Agreement for parties to review and assess implementation efforts and collective progress towards achieving the agreement’s purpose and long- term.6 The stocktake confirmed that the parties are not yet on track f. [...] UN Climate Change Executive Secretary Simon Stiell, in his closing speech, described the stocktake as “the beginning of the end of the fossil fuel era by laying the ground for a swift, just and equitable transition, underpinned by deep emissions cuts and scaled-up finance11.” It is now over to the government of Canada to transform the commitments made at COP28, as a responsible member of the inter. [...] As recalled in the terms of the global stocktake, the outcome of the stocktake “shall inform Parties in updating and enhancing, in a nationally determined manner, their actions and support in accordance with the relevant provisions of the [Paris] Agreement, as well as in enhancing international cooperation for climate action14.” In effect, the global stocktake urges the government’s next steps to.