- As countries worldwide ramp up their climate action, Canada remains laser-focused on keeping step in global race toward a greener future; takes unyielding action to attract investments in green technologies to accelerate wholesale decarbonization of its economy
- Derived from organic sources that would otherwise produce GHG emissions as they decay, renewable natural gas is often considered not only carbon neutral but carbon-negative and, as such, could be an essential part of Canada’s heightened efforts to catalyze energy transition
- As Canada’s renewable energy trailblazer, EverGen appears set to build on this potentially recession-proof green momentum as the Company seeks to remain at forefront of Canada’s race to transform and grow at speed and scale on its path to net-zero
Marked by colossal changes in the fight against global warming, including shifts in energy policy, two Conferences of the Parties (“COP”), and ramped-up awareness about climate change, 2022 could be remembered as one of the most prosperous years when it comes to climate action. As we enter 2023, the race toward a greener future is heating up worldwide, and Canada – home to EverGen Infrastructure (TSX.V: EVGN) (OTCQX: EVGIF), a leading Canadian renewable energy company – has shown no sign of slowing down in its commitment to take the climate bull by the horns. In a country where economic growth has traditionally been based on natural resources, and other carbon–intensive industries, companies like EverGen are set to benefit since meeting the ambitious climate targets will require a substantial boost of investments in sectors that can strengthen Canada’s position as one of the leading low-carbon economies.
The global energy crisis has sparked unparalleled momentum for the green energy sector. Governments around the world are seeking alternative forms of energy that are non-emitting, reliable, and affordable to ensure both an economically and environmentally sustainable future. The US plans to inject $369 billion of incentives for clean energy through the Inflation Reduction Act (“IRA”), the largest federal legislation to combat climate change. The European Union rushes to expedite its green policies to support the transition from fossil fuels, while China and India are making headway on strengthening their climate agendas (https://ibn.fm/TiOuw).
With 66.6% of its electricity and 18.9% of its energy supply obtained from renewable sources — compared to the world’s 13.4% average — Canada is one of the renewable energy leaders. But the country is also determined to stay competitive and keep pace with a growing number of countries that scramble to attract investments in innovative technologies that can help accelerate the decarbonization of their economies (https://ibn.fm/9eWd7).
The federal government announced the country’s response to the IRA, asserting an investment tax credit for renewables and clean technology as well as the Canada Growth Fund as an essential element of Canada’s effort to remain relevant in this landscape of accelerated global climate action (https://ibn.fm/CgWav). It also proposed a 2035 deadline for net-zero electricity grid and a federal zero-emissions vehicle sales requirement for light-duty vehicles (https://ibn.fm/UqNGi).
As a company that turns the never-ending supply of waste into renewable natural gas (“RNG”), EverGen aims to be a leading player on Canada’s burgeoning clean fuels scene. By taking food waste and waste from dairy farms, one of the most notorious perpetrators when it comes to climate change, EverGen aims to solve two of the largest environmental challenges of modern economies – carbon reliance and waste disposal. Manufactured by processing organic waste such as food, livestock, crops and sewage, RNG can be piped into the existing natural gas grid, just as conventional natural gas drilled from the ground.
Committed to accelerating Canada’s advancements on the global RNG scene, EverGen appears poised to lead RNG adoption efforts across the country. Originally from British Columbia, where it had its start two years ago, EverGen grew quickly and branched out into Alberta and Ontario in 2022, remaining focused on acquiring, developing, building, and operating a portfolio of RNG and related waste-to-energy projects while developing a domestic RNG platform.
Boasting one of the world’s most comprehensive climate plans and a wealth of natural resources, Canada is poised to position itself as a leading clean energy supplier in a net-zero world. Due to the rising global effort to reduce greenhouse gas emissions and reinforce energy security, the country’s clean fuels industry is rapidly growing, highlighting the importance of continued investment into the production, development, and distribution of clean fuels together with their infrastructure and technology (https://ibn.fm/IKWBu).
With the momentum set, more action is announced for 2023, and even a threatening economic downturn is unlikely to halt Canada’s fast-track decarbonization push. A technical recession expected in 2023 (https://ibn.fm/NCmPD) may slow efforts down, but the worries around energy security will likely continue to push the climate initiatives forward, which could potentially shield the country’s green sector from a sharper disruption amid the looming economic slowdown.
For more information, visit the company’s website at www.EverGenInfra.com.
NOTE TO INVESTORS: The latest news and updates relating to EVGIF are available in the company’s newsroom at https://ibn.fm/EVGIF
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