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Noia Supports Newfoundland and Labrador Net Zero by 2050 Commitment

(St. John’s, NL – June 18, 2020) Noia is embracing the recent commitment of the Government of Newfoundland and Labrador to achieve net zero carbon emissions by 2050. The ongoing efforts of Noia’s members and the industry to reduce its carbon footprint, transition to renewable energy mixes, and protect the environment, complement this commitment. As well, carbon intensity per barrel of oil produced offshore Newfoundland and Labrador is below the global average and a focused commitment to further emissions reductions can help the province set a new global standard for sustainability within the industry.

“Noia recognizes that as the world transitions to a lower-carbon economy, there is an important role for Canada’s offshore oil and gas industry to play. If Canada is to achieve the emissions reductions targets set out in the Paris Agreement, we know that part of the solution is change within the oil and gas industry and a commitment to net zero by 2050 helps set expectations and goals for all industries,” said Charlene Johnson, Noia CEO.

On June 10, 2020, the House of Assembly unanimously passed a Private Members Motion supporting the commitment to achieve net zero carbon emissions by 2050 in Newfoundland and Labrador. The motion highlighted the low-carbon intensity of the province’s oil at extraction, that soon 98 per cent of electricity used in the province will be generated from renewable energy, and committed to a five-year plan to achieve net zero emissions by 2050.

“I commend all parties in the legislature for supporting this important initiative for the future of our province and for their commitment to a cleaner economy and developing a plan with clearly defined targets to achieve net zero by 2050,” said Johnson. She also noted that Noia established a committee, along with other industry associations such as Neia and Nati, that will help the offshore oil and gas industry and its supply chain outline a pathway for the sector to help achieve the provincial goal of net zero by 2050. The committee was initially created in 2019 with the intent to focus on clean growth prospects.

“Addressing the challenges of achieving net zero and moving to renewable energy mixes brings opportunities for research and development and investment that we know can put this province on the leading edge of cleantech and contribute to the diversification of Newfoundland and Labrador’s economy,” continued Johnson. “The protection and well-being of our natural environment is a priority for Noia and its members, as evident by the high environmental standards in place in Newfoundland and Labrador.”

The Newfoundland and Labrador Oil and Gas Industries Association (Noia) was founded in 1977 to represent the supply and service sector of the offshore oil and gas industry. Today, Noia represents over 500 member organizations worldwide which are involved in, or benefit from, the oil and gas industry of Newfoundland and Labrador. Noia members are a diverse representation of businesses that range from offshore supply boats and helicopters, health and safety equipment and training, engineering solutions and fabricators to law firms and personnel agencies.

From Noia | Issued June 18, 2020