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Without fairness and inclusivity, the energy transition won’t be fast – Policy Options

February 20, 2024

Canada must do more than prioritize market mechanisms such as carbon pricing. Globally, right-wing actors are agitating to erode hard-won progress.

The COP28 climate change talks in Dubai in December ended with a bang.

For the first time in the 30 years of annual meetings, the countries attending the conference finally named the culprit behind global warming that imperils the planet and its inhabitants: fossil fuels. They agreed to “transition away from fossil fuels in energy systems in a just, orderly and equitable manner, accelerating action in this critical decade.”

The signal is clear: the era of fossil fuels is coming to an end. The transition from dirty and dangerous oil, gas and coal to renewables is underway.

U.S. President Joe Biden recently paused approvals of liquefied natural gas exports. The International Energy Agency tells us that for every U.S. dollar spent on fossil fuels today, $1.80 is now spent on clean-energy technologies and infrastructure. Five years ago, that ratio was one-to-one.

Read More: https://policyoptions.irpp.org/magazines/february-2024/energy-transition-fast-fair/

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