Keystone XL (KXL), the infamous midstream U.S-Canadian project from TC Energy, has committed to be fully powered by renewable sources by no later than 2030, and to achieve net-zero carbon emissions by its operational date, set around 2023, TC Energy announced this Sunday.
The announcement is part of a strategy by TC Energy to modernize the projects as it has more than 10 years of story behind; after a continued research an analysis, the company draw its plan for the project to be sustainable and net-zero in its greenhouse gas emissions.
Such initiative would eliminate more than three million tonnes of CO2 from the atmosphere annually; which are equivalent to 650,000 cars taken off the road every year. According to TC’s statement, the investment needed for this strategy spans around the $1,7 billion, and it would create around 1,6 GW of renewable capacity for communities around the project and “thousands of construction jobs in rural an indigenous communities.”
TC energy has also committed to work with U.S. and Canada union labor; just recently KXL signed a Memorandum of Understanding with North America’s Building Trades Unions (NABTU) to work together upon the TC-owned or source renewable energy projects for the pipeline.
By the conjoining of such efforts, the company plans to eliminate the project’s GHG emissions. Initially, when KXL enters service, around 2023, the emissions reduction will be achieved by purchasing renewable energy from providers; but, if it were not available, the company would invest in carbon offsets or renewable energy credits (REC).
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Net-zero strategy by KXL will create jobs in both sides of the border
“Since it was initially proposed more than 10 years ago, the Keystone XL project has evolved with the needs of North America; our communities and the environment,” said Richard Prior, President of KXL in the statement.
“We are confident that Keystone XL is not only the safest and most reliable method to transport oil to markets; but the initiatives announced today also ensures it will have the lowest environmental impact of an oil pipeline in terms of greenhouse gas emissions. Canada and the United States are among the most environmentally responsible countries in the world with some of the strictest standards for fossil fuel production,” he concluded.
While, François Poirier, President and CEO of TC Energy, added: “Today’s announcement is directly in line with our goal of doing what’s right for our communities and signifies Keystone XL’s commitment to strengthen efforts to create a sustainable future for all.”
“At a time of economic uncertainty, this will create thousands of jobs on both sides of the border; creating opportunities for underrepresented groups, including Indigenous peoples all along the KXL route,” also commented Sean Strickland, director of the Canadian Building Trades.