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

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