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.
“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.”
“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.
econext and the City of St. John’s have joined forces to bring other municipal and non-municipal partners together to explore the potential for new programming to help homeowners finance energy efficiency retrofits.
“While we know that a wide variety of energy efficiency retrofits can pay off even over a short period of time, the up-front costs associated with them continues to be a barrier for some homeowners,” said Kieran Hanley, Executive Director of econext. “It is beyond the means of many individuals and families to make those purchases today, even if it means savings tomorrow.”
“We are excited to be partnering with the City of St. John’s to explore what might be possible in terms of programming to address this challenge locally, and to work with other municipal partners to find what can work throughout Newfoundland and Labrador,” said Hanley. Hanley notes creative approaches exist in other jurisdictions that might be replicated in this province. These approaches leverage local, provincial, and federal funds to realize a benefit for the residents.
“In other jurisdictions homeowners can access low-interest loans, borrow from their future savings, combine multiple grants, or even borrow from the expected increase in their home’s value that results from investing into energy efficiency measures,” said Hanley.
“These programs are seeing high uptake and federal funding in other parts of Canada, and we want to conceptualize what is possible here at home.” The collaboration between econext and the City of St. John’s will evaluate municipal programming that exists in other jurisdictions, explore their applicability within the local context, and then structure a proposed program for Newfoundland and Labrador that can scale with municipalities.
“Our goal in this partnership is to address gaps in programming and reduce long-term household energy poverty by leveraging funding from other levels of government and matching those funds directly with homeowners who need it,” said Councillor Ian Froude, Council lead for Sustainability. “The upfront costs of installing a heat pump, or insulating a basement, for example, is often out of reach for residents on a fixed income. The City of St. John’s can play a bigger role in helping residents access funding to cover these upfront costs, and that’s what this partnership is all about.”
Home heating is a major contributor to the province’s greenhouse gas emissions. “Increased energy efficiency retrofit activity will reduce our overall greenhouse gas emissions and put the province on a better path to reaching net zero by 2050,” said Hanley. For electric heated homes, retrofits will help build resiliency in and increase the reliability of the province’s electricity grid, helping to keep rates from rising.
Hanley said a program would help grow the clean economy. “Increasing energy efficiency across the board will create new green jobs and business opportunities in every corner of Newfoundland and Labrador.”
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.
“The science is clear: the world must decarbonize,” said Kieran Hanley, econext’s Executive Director. “What is also true is that the process of moving beyond fossil fuels is an enormous global undertaking that will take many years.”
“Thus, in a world that still needs oil – the reality is that the continuous pursuit of low-emissions production is a worthy contribution to the fight against climate change.” Hanley said that during this period of transition, oil should come from a place like Canada where environmental, safety, and human rights standards are high.
“We cannot impact the speed at which other nations decarbonize, nor can we impact global demand for oil,” said Hanley. “What we can do is change the game in terms of how oil is produced.” Hanley points to The Net Zero Project as an important effort in that regard for Newfoundland and Labrador – and Canada. “The energy transition involves both decreasing the impact of oil and gas activities and large investments into clean energy projects.”
“Newfoundland and Labrador can become a clean energy powerhouse,” said Hanley, alluding to the rich cache of undeveloped renewable energy resources in the province. Hanley said that the province should have a ‘laser-like’ focus on the decarbonization of its domestic economy and the development of clean energy. “Electrifying transportation and industries, creating the hydrogen economy, building wind and offshore wind projects – this is the future of our province, but we need financial resources to accomplish that.”
“We should be focused on this future; but without the ability to progress reasonable projects like Bay du Nord, reaching that potential will become infinitely harder for this province.” Hanley said that revenues accrued from the project should be re-invested into Newfoundland and Labrador’s clean energy future.
The impact of the offshore industry goes well beyond revenues and royalties; it has played a central role in developing the province’s cleantech sector. “Previous offshore projects have helped to create a wave of ocean technology firms which now export their products and services worldwide, helped to establish internationally-recognized research and development resources and capacity within the province, and helped to foster a world-leading cluster of companies and institutions developing and deploying environmental sensing, monitoring, and characterization technologies.” Hanley said that a targeted focus on emissions reductions can have a similar transformational effect on clean technology development in the province – a prospect supported by the results stemming from Canada’s highly impactful Emissions Reduction Fund.
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 production offshore Newfoundland and Labrador is already 30 percent below the global average.”
“The Bay du Nord project is extremely important for the future of our provincial economy on a number of different fronts,” said Hanley. “It is an important part of Newfoundland and Labrador’s energy transition and is key to helping us unlock our clean energy potential.” Hanley said the project has undergone one of the world’s most rigorous regulatory processes, and that econext is confident that it will be approved.
“Finding the right balance on environment and economy is a difficult business,” said Hanley. “The Bay du Nord project is a big step in the right direction.”
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.
econext is indicating its support for recent announcements from the Government of Newfoundland and Labrador that will support electrification – the process of switching from fossil-fuel based activities to electric ones.
This week the Government of Newfoundland and Labrador announced additional investments for electric vehicle charging infrastructure, rebates for EV and plug-in hybrid vehicles, and assistance for homeowners to switch from oil to electric heating.
“Here in this province we have access to rich renewable energy resources,” said Kieran Hanley, econext’s Executive Director, “and so it makes complete sense on a number of levels to invest in electrification initiatives.”
“Each process that we electrify helps reduce the province’s greenhouse gas emissions, creates green jobs, and helps mitigate electricity rate increases,” said Hanley. “We encourage the provincial government to move quickly to do what it can to facilitate electrification throughout the economy.”
Hanley said that a long-term electrification strategy should be put in place that includes investments into fuel switching for public transportation, marine transportation, heavy industrial activities such as mining, and building heating.
“Newfoundland and Labrador has the potential to be a global leader in the energy transition as we pursue net zero – and the degree to which we can electrify our economy will play a big role in that.”
econext made a series of specific recommendations around renewable energy and electrification in a submission to the provincial government in the development of its renewable energy plan. Click here to review econext’s recommendations.
econext is an association of businesses that accelerates clean growth in Newfoundland and Labrador. econext works on behalf of over 200 members to foster environmentally sustainable economic development. More information can be found at https://econext.ca.
econext, in partnership with the Atlantic Canada Opportunities Agency (ACOA) and the Department of Industry, Energy, and Technology (IET), is continuing its work assisting firms in the investigation of and pursuit of international business opportunities in the Caribbean region, with particular focus on the Green and Blue Economies.
Registration will be closing March 18, 2022 for the Spring mission to the Caribbean region with an intent to focus travel primarily around the business week of May 30 – June 3, 2022.
Each delegate firm/organization may select to receive support services in up to two markets.
What's Included
Participants in this trade mission will receive:
Matchmaking and Mission Support provided by Amber Mackereth Consulting
Hotel Block/Group Rate*
Airport Transfers In-Market
Networking Reception(s)*
Ground Transportation to Off-Site Meetings
In-market Debriefs/Troubleshooting Sessions*
Mission Follow-Up Services/After-Care
Travel Stipend: Delegates are responsible for their own travel costs. However, a travel subsidy from IET may be available for eligible NL participants.
*in anchor markets/markets with sufficient delegate presence
Interested in participating in the mission to do your own follow-up meetings? Consider registration as an Associate Delegate!
To register for the Spring mission, companies must meet the following criteria:
Clear financial standing with econext and its funding partners ACOA and IET
Completion of online registration form
Confirmed payment of registration fee – $600.00 + HST for Full Delegate | $200.00 + HST for Associate Delegate
Demonstrated export readiness/market research
Confirmation of flight itinerary by Thursday, April 14.
It is highly recommended that firms considering this trade mission have completed preliminary market analysis/research.
COVID-19 Considerations
The guidelines put in place by the Government of Canada as identified under Global Affairs Canada Travel Advisory and Advice must be adhered to including any other travel restrictions and protocols that may apply: https://travel.gc.ca/travelling/advisories
Eligible Markets: While target markets are customizable, destinations will only be considered eligible when the travel advisory is set at risk level one or two.
Companies will be expected to exercise due diligence when selecting markets and planning travel.
Public health guidance including mask mandates and entry/exit requirements will vary between jurisdictions.
econext and its partners assume no responsibility, in whole or in part, for delegate travel complications, delays, or interruptions including those related to health restrictions.
Delegates are strongly encouraged to consult with their travel insurance providers prior to travel.
The following links provide additional information related to international travel. Please refer to the Government of Canada’s links for the latest travel restrictions, exemptions, and advice:
Our missions are customizable! We believe that each delegate should select markets that make sense based on your own objectives and market research instead. Receptions, briefing sessions, etc. will take place in “anchor markets”, or markets seeing significant delegate presence.
Can I enroll in the Customized Consulting Services AND the Spring Trade Mission?
Yes! However, if you are considering applying for both this service and the Spring Trade Mission, we stipulate that the services requested under the customized consulting services initiative be distinct from those that are to be delivered through a trade mission (e.g., market research or virtual meeting coordination focused on distinct geographic markets)
What happens if public health guidance changes regarding non-essential travel?
Should econext decide that travel to the region is no longer advisable prior to the creation of mission meeting programs, the mission may be postponed.
If travel restrictions change after matchmaking has begun, the mission may pivot to a virtual format. It takes considerable time and effort to create and confirm tailored meeting programs, and delegates will be expected to devote similar attention and effort to the execution of a virtual program if need be.
Registration deadline for this mission is March 18, 2022, however early registration is encouraged!
*Please note that there are a limited number of spaces available for this opportunity and that meeting the minimum eligibility criteria does not guarantee registration.*
If you have any questions about the econext Spring Mission, Please Contact Abbie at abbie@econext.ca.
econext is welcoming expressions of interest from firms based out of Atlantic Canada looking to progress their export and internationalization objectives.
To qualify for supports, firms must:
be based in either Newfoundland and Labrador, Nova Scotia, New Brunswick, or Prince Edward Island.
provide or are developing technologies, products, or services that improve environmental performance or inform on environmental performance related to ocean-based industries
have an interest in expanding on existing long-term interests and activities in or in partnership with European markets
A limited number of eligible firms will access econext supports to enhance their international business strategies. These supports will include:
an analysis of existing strategies to ensure they are incorporating changing circumstances (e.g., the impacts of covid-19, accelerated international discussions around net zero and the energy transition)
advice on changes that should be considered given these changing circumstances
advice on next steps that the firm might take in updating its long term internationalization strategies, including guidance on government programming available to support these efforts
Firms are encouraged to indicate their interest by April 1, 2022. Please contact Abbie Hodder with your questions and interest at abbie@econext.ca.
St. John’s, NL – econext, in partnership with the Maritimes Energy Association (MEA) and with support from the Atlantic Canada Opportunities Agency (ACOA), has released a report “Atlantic Canada’s Green Potential – Jobs and Skills Toward Clean Growth”.
The report helps define what a ‘green job’ means in context of Atlantic Canada’s economy.
“The greening of the economy looks different depending on where in the world you are,” says Kieran Hanley, econext’s Executive Director. “The makeup of a region’s economy – including the state of its current industries and future growth opportunities – will determine to a large extent what effects the energy transition and the greening economy will have on local jobs.”
Hanley said that Atlantic Canada has a unique economy relative to other parts of the country, and that it is important for decision-makers to understand what the idea of a ‘green job’ meant within the region.
“We are pleased to support this project to better define what a ‘green job’ is in Atlantic Canada,” said Jennifer Tuck, CEO of MEA. “This body of research will give business leaders, governments and individuals in the region a better understanding of what the energy transition can mean for the Atlantic Canadian economy.”
econext and MEA were supported by ECO Canada in this research. ECO Canada’s mission it to build the world’s leading environmental workforce in Canada, with a vision to ensure an adequate supply of people with the demonstrated skills and knowledge required to meet the environmental human resource needs of the public and private sectors.
“Green jobs are growing across Canada. In Atlantic Canada alone we will need 6,600 new green workers by 2025, or nearly 20% of the region’s 2020 green employment levels”, said Kevin Nilsen, President and CEO of ECO Canada. “This qualitative study showed that the transition to a cleaner and greener economy in Atlantic Canada is complex. While there will be opportunities in the form of new or growing STEM jobs, more support is needed to ensure the workforce across various roles has the cross-disciplinary skill sets required.”
“It is clear that governments and financial markets around the world are moving quickly to support clean growth activities,” said Hanley. “We must adequately support our workforce to thrive in a cleaner, greener future and we believe that this research moves the needle in the right direction for us.”
econext is an association of businesses that accelerates clean growth in Newfoundland and Labrador. econext works on behalf of over 200 members to foster environmentally sustainable economic development. More information can be found at https://econext.ca.
The MEA advances the region and its energy economy by working with key stakeholders, including members, governments and policy makers. More information can be found at https://maritimesenergy.com.
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Media Contact Kieran Hanley
Executive Director, econext kieran@econext.ca
St. John’s, NL – Newfoundland and Labrador’s environmental and oil and gas industries are collaborating to examine options to reduce greenhouse gas (GHG) emissions in the province’s offshore oil and gas industry.
Energy Research & Innovation Newfoundland & Labrador (ERI) is providing $440,070 of a total project value of $723,820 to econext and Noia (Newfoundland and Labrador Oil and Gas Industries Association) to conduct a project titled Net Zero Pathways and the Feasibility of Blue Hydrogen Production in Canada’s Offshore Oil and Gas Industry. The funding comes from Natural Resources Canada’s Emissions Reduction Fund, Offshore RD&D program, which is managed and administered by Energy Research & Innovation Newfoundland & Labrador. OilCo is contributing $137,500 to the overall project. The Atlantic Canada Opportunities Agency (ACOA) is making a non-repayable contribution of $146,250 to econext to support the Net Zero Pathways.
The study will provide detailed pathways for Canada’s offshore oil and gas industry to achieve net zero GHG emissions targets in offshore oil and gas production by 2050, while maintaining economic development and industry growth. Through the project, econext and Noia will:
compile available data and fill information gaps;
evaluate known emissions reduction technologies and processes for their financial feasibility, net environmental impact, and local economic development contribution;
formulate options for achieving net zero by 2050; and
study the feasibility of generating blue hydrogen offshore, including determining opportunities and interdependencies with carbon capture and storage, electrification, additional gas development, and other technologies.
Another project, Terra Nova Floating, Production, Storage and Offloading (FPSO) Flare Reduction Study, is investigating installing a closed flare system on the vessel to reduce GHG emissions. Suncor will complete front-end engineering and design (FEED) studies to determine the feasibility of installing a closed flare system on the vessel to improve gas compression train-related flaring. Suncor is receiving $678,762 from the Emissions Reduction Fund to complete the study.
“These projects will fill important information gaps for the local energy industry. ERI is able to facilitate collaboration across companies, organizations and industries to develop solutions to reduce GHGs from offshore operations, while still ensuring the future of our industry and the important role it plays to our province,” said Dave Finn, CEO, Energy Research & Innovation Newfoundland & Labrador.
“Through the Offshore Research, Development and Demonstration stream of the Emissions Reduction Fund, the Government of Canada is supporting innovative research and development to decarbonize offshore operations. These projects will help advance clean technology in the Newfoundland and Labrador offshore oil and gas industry and help Canada reach net-zero emissions by 2050,” said the Honourable Jonathan Wilkinson, Minister of Natural Resources.
“We need to lower emissions and build up renewables in Newfoundland and Labrador’s offshore. Investors are choosing jurisdictions that take climate change seriously, and our industry is taking the initiative. We believe in our workers, in this industry, and in their future. We’re continuing to invest in them, and in the research and development that will get us to net zero by 2050,” said the Honorable Seamus O’Regan, Minister of Labour and Member of Parliament for St. John’s South-Mount Pearl.
“The Government of Canada has made a commitment to achieve net zero emissions by 2050. ACOA’s contribution to the econext project is an important step in that direction. We know that protecting the environment and growing the economy go hand in hand. This investment is helping us do just that,” said the Honourable Ginette Petitpas Taylor, Minister of Official Languages and Minister responsible for the Atlantic Canada Opportunities Agency (ACOA).
About Energy Research & Innovation Newfoundland & Labrador
Energy Research & Innovation Newfoundland & Labrador (ERI) advances research, development and demonstration (RD&D) and innovation projects in the offshore oil and gas industry, with a focus on health, safety and the environment. ERI is a federally incorporated, not-for-profit organization whose members include Chevron Canada Resources, Equinor Canada, ExxonMobil Canada, Cenovus, Oil and Gas Corporation of Newfoundland and Labrador and Suncor Energy. www.erinl.ca
PROJECTS BACKGROUNDER
Recipient: econext, Noia Project Title: Net Zero Pathways and the Feasibility of Blue Hydrogen Production in Canada’s Offshore Oil and Gas Industry Emissions Reduction Fund Support: $440,070
The objective of this project is to outline detailed pathways for Canada’s offshore oil and gas industry to achieve both net zero greenhouse gas (GHG) emissions targets by 2050 and economic development and industry growth. There are many technologies and processes that can be deployed in the pursuit of emissions reductions. This project will narrow the possibilities to a manageable number of pathways or scenarios that can be continuously refined and updated when technical or financial circumstances change. This work will incorporate an assessment of the feasibility of the production of hydrogen in Canada’s offshore industry. Hydrogen is increasingly being viewed nationally and internationally as being an important fuel in the fight against climate change. Clearly understanding its potential role in Canada’s offshore oil and gas industry is an important information gap that must be addressed as part of the development of net zero pathways. www.netzeroproject.ca/
Recipient: Suncor Energy Inc. (NL) Project Title: Terra Nova FPSO Flare Reduction Study Emissions Reduction Fund Support: $678,762
On average, daily background flaring results in approximately 25-30% of Terra Nova’s current greenhouse gas emissions. Flare gas is a by-product of oil production and processing during normal operations that is released from different sources in the process system. This gas is sent to flare to be burned off, resulting in greenhouse gas emissions. The purpose of this project is to complete front-end engineering and design (FEED) studies focusing on reducing flaring on the FPSO (floating production, storage and offloading vessel). The study will assess the technical feasibility of installing a closed flare system on the Terra Nova FPSO and reducing gas compression train-related flaring. www.suncor.com/
econext is seeking input from municipalities across Newfoundland and Labrador to help it build a list of climate change actions that they are hoping to pursue.
These actions can range from climate change mitigation projects (e.g., initiatives that help decrease greenhouse gas emissions) to adaptation projects (e.g., infrastructure improvements to protect from changing weather conditions) to other environmental projects such as wastewater treatment and waste management.
With more information from municipalities on their climate action priorities, econext can work more proactively and deliberately to support them on a one-on-one basis to pursue partnerships and funding.
Interested municipalities are asked to fill out the survey via the link below. Questions about this initiative can be sent to econext‘s Executive Director, Kieran Hanley, at kieran@econext.ca.
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