Month: April 2022

For Immediate Release
April 7, 2022

econext is expressing its support for the decision made yesterday by Canada’s Minister of Environment and Climate Change to accept the Impact Assessment Agency’s recommendations on the proposed Bay du Nord project.

“We recognize that finding the right balance between environment and economy can be difficult,” said Kieran Hanley, CEO of econext. “In this case we think that the right decision was made.”

Canada is the fourth largest producer of oil and gas in the world. Hanley said that the country has a responsibility to push the boundaries of technology and processes to ensure that what is produced is the most environmentally sound as is possible. “The Bay du Nord project represents a step-change in greenhouse gas emissions intensity for oil projects in Canada, and will help drive cleantech development in Newfoundland and Labrador in the years ahead.”

“We are supportive of Canada’s announcement yesterday that oil and gas projects will be expected to feature best-in-class environmental standards and demonstrate pathways to reaching net zero by the year 2050,” said Hanley, noting this is in line with econext‘s position and the objectives of its Net Zero Project.

econext is an association of businesses that accelerates clean growth in Newfoundland and Labrador and works on behalf of over 200 members to foster environmentally sustainable economic development. More information can be found at https://econext.ca.

Media Contact:
Kieran Hanley
CEO
kieran@econext.ca

For Immediate Release
April 5, 2022

Two announcements in Newfoundland and Labrador today are helping to set the stage for clean energy industry growth in Newfoundland and Labrador.

First, the province’s Minister of Industry, Energy, and Technology announced an end to the moratorium on wind development.

“The wind moratorium was a barrier that needed to be removed immediately in order to allow for clean energy development in this province,” said Kieran Hanley, econext‘s CEO. “We were very pleased to see the Minister commit to this action today, as it sends an important signal to industry and investors that the door is opening for new renewable energy projects in Newfoundland and Labrador.”

Last Fall econext submitted to the provincial government a series of specific recommendations for consideration in the development of Newfoundland and Labrador’s renewable energy plan – a plan that was released in December.

“We are very encouraged by the speed at which the government is moving on the actions it committed to in its renewable energy plan,” said Hanley. “If we can continue progressing and building momentum at this rate, Newfoundland and Labrador will be able to realize its clean energy potential.”

The second announcement today was that the offshore petroleum regulator was expanding its mandate to include offshore renewable energy. In addition, Environment and Climate Change is initiating a regional assessment under the Impact Assessment Act for wind energy in Newfoundland and Labrador’s offshore.

“Newfoundland and Labrador has some of the best offshore wind resources in the world,” said Hanley, noting that an important enabling condition for clean growth is the implementation of a regulatory framework that will support it. “The expansion of the offshore regulator’s mandate is another proactive step that will open the door to new opportunities.”

econext is an association of businesses that accelerates clean growth in Newfoundland and Labrador and works on behalf of over 200 members to foster environmentally sustainable economic development. More information can be found at https://econext.ca.

Media Contact
Kieran Hanley, CEO
kieran@econext.ca