HomeCarbon NewsQuebec Ends Oil & Gas Exploration & Extraction

Quebec Ends Oil & Gas Exploration & Extraction

COP26 is just days away, and in a bold move, Quebec has announced the ban of all fossil fuel extractions and exploration.

Quebec Premier François Legault announced that the province will “definitively renounce the extraction of hydrocarbons on its territory,” a huge victory for environmentalists.

In a statement, Greenpeace Canada Climate Campaigner Patrick Bonin said that “Closing the door on fossil fuel extraction is a huge victory, made possible by the relentless opposition from citizens to both shale gas and conventional oil and gas exploration.”

He believes that now, “In Canada, and around all the world, the pressure to end the expansion of oil and gas production will only continue to grow.”

The ban has not come without challenges. Three oil and gas companies are suing the Quebec government since their leases were previously approved. Other companies are filing a lawsuit over application rejections.

Quebec is currently the second-largest oil refiner in Canada, followed by Alberta. Greenland, Ireland, and Denmark have also banned fossil fuel exploration.

Quebec’s announcement couldn’t have come at a better time.

With COP26 taking place, and Paris Agreement milestones coming due, many governments and corporations are trying to find ways to reduce their carbon emissions.

Their desire to offset carbon while other technologies become available as certainly led to the rise of the carbon offset industry. The carbon credit industry was valued at $300 million in 2018. It is now at $100 billion and is expected to reach $22 trillion by 2050.

Carbon offsets, strong regulations, and advanced technology all have a part to play in helping the world reach their net-zero goals. If more nations step up as the province of Quebec has, we could all be that much closer.

Let’s hope that Quebec’s announcement inspires others to do the same.

Most Popular
LATEST CARBON NEWS

From Wild Seaweed to High-Value Products and Carbon Credits

A wave of seaweed is covering the Caribbean coasts, killing wildlife while harming humans and tourism, but an innovative company is turning it into...

Ammonia: Carbon-Free Fuel for the Shipping Industry

Converting ammonia into hydrogen is an emission-free fuel to help decarbonize the heavy-duty and shipping transportation industry. The transportation industry is the biggest polluter in...

How The First Carbon Negative Nation of Bhutan Did It

As the world’s richest and largest emitting countries are struggling to reduce emissions, Bhutan became the first carbon negative nation. Fog-enshrouded temples nestled in mountainous...

Google’s Eco-Friendly Routing Comes to Europe

Google expanded its eco-friendly routing on its Google Maps to 40 countries across Europe. With Google Map’s eco-friendly routing, drivers can choose a route that’s...
CARBON INVESTOR EDUCATION

The 5 Top Carbon Offset Project Developers

Are you looking to directly reduce your carbon footprint or support projects that cut emissions elsewhere? Then carbon credits allow you to do either...

The Top 3 Private Carbon Companies to Watch Right Now

Right now, the carbon space is heating up. Dozens of companies are jumping into what’s fast becoming one of the hottest spaces to invest...

Carbon Insetting: The Target of Scope 3 Carbon Offset Accounting

Carbon offsets are a well-known sustainability concept so you most likely have heard of them. But there’s a relatively new sustainable supply chain term...

Tonne Year Accounting for Temporary Carbon Storage

You most likely know the climate benefits of storing carbon and removing gigatons of it from the atmosphere to limit climate change. But we also...