REDUCING GHG EMISSIONS. FUNDING A WAY FORWARD. Climate Change and Emissions Management Corporation.

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Presentation transcript:

REDUCING GHG EMISSIONS. FUNDING A WAY FORWARD. Climate Change and Emissions Management Corporation

A climate for change

* Currently under review Alberta’s 2008 Climate Change Strategy*

Policy obligations Mandatory requirements to hit performance target Flexibility options Continuous Improvement Credits or Offsets Pay into $15/tonne Annual compliance Mandate Reduce GHG emissions and help Alberta adapt Focus on discovery development and deployment of technology Delegated Administrative Organization Arms length - Board led Business and technical acumen Virtual – suite of service providers Governance best practices CCEMC- Platform

Operational Strategy Align with Climate Change Strategy Pursue technology (transformative) development Seek technologies from around the world Run competitions to find/select the best projects Invest in all stages of technology development Manage a diverse portfolio Partner to assist in achieving outcomes Be patient Tell our story

Funding Process $511.6M received to date, new funds received annually Competitive process 1.Request for proposal – 2 stages a. Expression of interest b. Full project proposal 2. Due diligence – technical, financial, GHG reduction 3.Decision – portfolio considerations 4.Contracting and performance management 5.Commercialization – Innovation ecosystem

Operating for 5 years – 106 total active projects Committed $343.5M in project support ~ $1.65 billion in total project value (leverage ~ 6:1) Emissions reduction estimated at 12.7 MT/2020 Market potential 9.7 MT/ Grand Challenge projects (1 MT) (Rnd 2 in review) Adapting to climate change – $7M, 3 projects Biological program – $10.6M, 17 projects (1MT) Active RFP’s - joint call CCEMC/SDTC ($40M) Our Performance

Innovation Step ($M) Jan 2015

Additional Value Conference Board report CCEMC portfolio from Total economic impact - $2.4 B 13, 600 person years of employment Alberta GDP impact approx. $2B 11,000 person years employment Ontario GDP $219M 1100 person years employment

Current scenario Climate Leadership Plan – process, results have led to a new strategy Focus on reducing pollution from coal-fired emissions Reducing methane by 45% by 2025 Capping emissions from oil sands at 100Mt Setting a price for carbon Changes in emission intensity standards Increasing the price to $30/t on Jan 1, 2017 Compliance options Voluntary improvements Emission performance credits Alberta-based carbon offsets Contribution to the CCEMF See Climate Leadership Plan for details

Closing message Details of Climate Change Strategy in development CCEMC business planning underway CCEMC is open for business Anticipate new calls, watch for Grand Challenge announcements To learn more: CCEMC.CA Projects we support Funding opportunities Climate Change and Emissions Management Corporation