Canada’s carbon emissions drop for the first time since pandemic begins, based on an early calculation by Canadian Climate Institute. According to study, emissions fell by 0.8% from 2022 to 2023 mainly because of cuts in electricity and buildings sectors. The power industry has been particularly effective, achieving a 62 per cent reduction in emissions since 2005 due to coal phase outs and the adoption of renewables energy

On the other hand the oil and gas sector has seen increased emissions and now making up close to one-third of the country’s total. Emissions from oil sands have more than doubled cancelling some of the gains made in other sectors and resulting in a 12 per cent increase in overall oil and gas emissions since 2005. The key takeaway of the report: there is a strong need to speed up efforts to hit the goals of reducing emissions by 40 to 45 per cent by 2030 and getting to net zero by 2050