Powering Progress: 2024 Update on CFA’s Driving to 2050 Vision
Ottawa, Nov. 5, 2024 – Today, the Canadian Fuels Association (CFA) released Powering Progress: A 2024 Update to CFA’s Driving to 2050 Vision, highlighting some of the progress we are making and the innovations that demonstrate our commitment to a low-carbon transportation future, while also outlining the multifaceted approach required to effectively achieve our 2050 vision.
Since the release of Driving to 2050 four years ago, the Canadian Fuels Association and its members have continued to advance our vision for decarbonizing the transportation sector. We’ve translated this vision into action through a wide array of member-led projects across the country, spanning the full spectrum of decarbonization strategies.
“The United States is making significant strides with biofuels through incentives like their Clean Fuel Production Tax Credit, which is already driving growth in their renewable diesel and ethanol sectors,” said Bob Larocque, President and CEO of the Canadian Fuels Association. “This is a critical moment for our policymakers to act, leveraging Canada’s liquid fuels sector to support long-term economic and environmental benefits. Canada must take action to ensure a competitive North American market and stimulate meaningful investments here at home for all decarbonizations pathways.”
Key highlights from Powering Progress:
- A truly effective decarbonization strategy must include a variety of new technologies and alternative fuel options. Canada has the potential to be a leader in the global low-carbon fuel market and drive innovation in technologies that are setting new standards for sustainability.
- Continued innovation and investment in low-carbon fuels are essential to help reduce transportation emissions today as electric technologies continue to advance. They will also remain important in the future especially in hard to electrify sectors such as heavy transport, marine and aviation.
- By scaling up low-carbon fuel and other decarbonization projects, the country can enhance its energy security, support economic growth, and create jobs across the fuel value chain. This includes benefiting agriculture and forestry sectors that provide feedstock for biofuel production.
- Effective collaboration between the transportation fuels industry and other sectors is essential for reducing emissions, improving energy efficiency, and advancing technology. In Canada, partnerships between government, industry, and communities drive economic growth, job creation, and energy security.
The Canadian Fuels Association and its members continue to work collaboratively with governments, industry, researchers and supply chain partners to advance innovative low-carbon transportation energy options.
To read Powering Progress, click here
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 and more than 70% of Canada’s biofuels. Our sector contributes approximately $12 billion to Canada’s GDP each year and employs more than 115,000 Canadians at 16 refineries, 10 biofuel production facilities, 75 fuel distribution terminals and approximately 12,000 retail and commercial sites.
For media inquiries please contact:
Brittney Stoddart
Communications Coordinator, Canadian Fuels Association
media@canadianfuels.ca
