Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Public awareness and acceptance of Carbon Capture and Storage (CCS) as a tool to combat climate change is higher in Saskatchewan and Alberta than the rest of Canada, concludes a nation-wide survey released today by IPAC-CO2 Research Inc.
“As Canadians, we need to publicly discuss our transition to a low carbon future. This survey helps us understand where CCS, which is a critical part of Canada’s plan, plays in public perception,” says Richard Adamson, Managing Director of CMC.
Carmen Dybwad, CEO of IPAC-CO2, agrees: “Effective communication underlies the ability to engage in discussion on how we can sustainably and responsibly meet our future energy needs. The information found in the national Public Awareness Survey provides the much needed understanding to initiate and nurture the communication with Canadians on our options for reducing greenhouse gas emissions.”
The online survey of 1,548 Canadians, commissioned by IPAC-CO2 with support from CMC, was conducted by Insightrix Research, Inc. between Sept. 27 and Oct. 28. 2011. The margin of error is plus or minus 3 % at a 95% confidence level. The online Canadian poll parallels the 2011 Eurobarometer survey of 13,000 individuals in 12 European countries.
CCS refers to a technology attempting to prevent release of large quantities of carbon dioxide into the atmosphere during the process of power generation or from heavy industrial operations such as steel mills or cement plants. It is considered a key tool in combating climate change since it could potentially diminish the contribution of fossil fuel emissions to global warming.
“Comparing the awareness in the different provinces, the study shows a higher level of knowledge in Saskatchewan and Alberta where 40% and 27% of respondents report knowing what CCS is. The lowest levels of awareness are in Ontario and Atlantic Canada with figures of 9% and 10%,” said Dybwad. Overall in Canada 14% of respondents know what CCS is while in Europe just 10% of respondents report knowing what CCS is.
Adamson says the results are not a surprise. “In Alberta the provincial government recently invested $ 2 billion in CCS demonstration as part of its plan to reduce carbon emissions. In Saskatchewan, Cenovus has been sequestering CO2 in an enhanced oil recovery operation in Weyburn for decades. So more people have heard about and know what CCS is.”
Canadians and Europeans agree on the effectiveness of CCS as a method to combat climate change. About the same proportion of respondents in Canada and Europe believe that CCS would be very (7% and 6% respectively) or fairly (35% in Canada; 33% in Europe) effective in fighting climate change. However, the proportion who are unsure of its effectiveness is considerably higher in Europe (36%) compared to Canada (24%).
Created in 2009, IPAC-CO2 works to gain public and regulator confidence in the geological storage of carbon dioxide as a sustainable energy and environmental option by providing independent performance assessments of carbon capture and storage (CCS) projects.
Carbon Management Canada is a national network that funds academic research to develop the technology, the knowledge and the personnel to radically reduce carbon emissions in the fossil energy sector and in large-scale emitters.
(Graphic courtesy of IPAC-CO2 Research Inc.)
