The agreement will be centered around the development of best practices to reduce greenhouse gas emissions through carbon capture and storage while improving economic return on projects by reusing the carbon captured carbon for other purposes.
The two provinces will accelerate the development of CCS technologies, exchange information and updates on the projects, and work together to look at future opportunities.
“We have put in place a cap and trade mechanism in Québec, an instrument recognized throughout the world to fight climate change and reduce GHGs,” Couillard said. “But to ensure our prosperity and the competitiveness of our companies, we also need that innovation be placed in all sectors, especially with new ways to reduce GHGs emitted by production activities. The world economy is transformed and states should create an environment conducive to investment, knowing that fighting climate change is a factor of increased competitiveness. Saskatchewan has expertise in carbon capture that our companies could benefit from. What is good for the economy can also be good for the environment.”
“Innovation and the development of clean technology options have great potential to help address climate change worldwide,” Wall said. “Saskatchewan’s leadership in carbon capture and storage shows that we can be part of the global solution in addressing climate change, by focussing on the development of practical technologies, without adversely impacting our economy.”