Ottawa, Ontario, June 29, 2023 – The Clean Fuel Regulations (CFR), which take effect on July 1, 2023, set increasingly stringent targets for reducing the carbon intensity of transportation fuels. The transportation sector currently accounts for 22%[1] of Canada’s total GHG emissions, and the new CFR will require a 15% decrease in emission intensity by 2030, compared to 2016 levels.
The Canadian Fuels Association (CFA) and its members [2] have long supported the concept of national fuel regulations using a technology neutral approach.
“The CFR is an important framework for significant emission reductions as well as investment in Canadian-made solutions. This policy can help drive low-carbon technologies and solutions, such as biofuels, to decarbonize the transportation sector which is critical in addressing climate change. As the supplier of 95% of Canada’s transportation fuels we are up for this challenge and our current fuels network is a strategic asset that can be leveraged.”said Bob Larocque, President and CEO of the CFA.
Since unveiling the industry’s Driving to 2050 vision over two years ago, CFA members have announced plans to invest over $8 billion in low-carbon solutions that have the potential to reduce GHG emissions by more than 10 million tonnes, while creating sustainable and well-paying jobs in the process.
“We’re already seeing billions of dollars of investments from our members towards Made-in Canada lower-carbon fuels, with the potential to significantly reduce emissions and create sustainable, well-paying jobs throughout the value chain. These projects take years of planning, from permitting to production, and regulatory certainty is key.” Larocque continued.
Low-carbon fuels will continue to be part of Canada’s energy mix for decades to come and there is a tremendous opportunity to make these fuels in Canada to the benefit of the environment, economy and energy security. With a supportive public policy framework and competitive investment climate, we can unlock the full potential of Made-in-Canada low-carbon fuels, rather than relying on imported biofuels.
“With an abundance of natural resources, over a century of refining expertise and established fuels infrastructure, the CFA and our members are ready to fuel Canada forward.” Larocque concluded.
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About the Canadian Fuels Association
The Canadian Fuels Association (CFA) represents Canada’s transportation fuels industry and our members supply 95% of Canada’s transportation fuels. Contributing over $10 billion to Canada’s GDP annually, the sector also provides employment for more than 117,000 Canadians at 15 refineries, 75 fuel distribution terminals and 12,000 retail and commercial sites across the country.
For media inquiries please contact:
John Braniff
Communications Manager, Canadian Fuels Association
media@canadianfuels.ca
[1] https://www.canada.ca/en/environment-climate-change/services/environmental-indicators/greenhouse-gas-emissions.html
[2] Canadian Fuels members: Federated Co-operatives Limited. Greenergy, Greenfield Global, Imperial Oil Limited, Irving Oil, North Atlantic, North West Redwater Partnership, Parkland Corporation, Petro-Canada Lubricants Inc., Shell Canada Products, Suncor Energy Products Partnership, Tidewater Midstream and Infrastructure Ltd. and Valero Energy Inc.
