Three quarters of oil and gas sector could be displaced in move to cut emissions

A report by TD Bank suggests up to three-quarters of those working in the oil and gas sector could lose their jobs over the next three decades as Canada works toward its greenhouse gas emission targets.

Ottawa has set a goal of net-zero emissions by 2050.

The TD report says the government's commitment is critical to avoid the worst outcomes of climate change, but the cuts will need significant action

The report says that 50 to 75 per cent of those working in the oil and gas sector or between 312,000 and 450,000 people could be displaced by 2050.

It says the clean-energy transition will create new job opportunities, but there is no guarantee that those hurt will stand to benefit from the change.

The report says efforts and resources to cut emissions should be matched by efforts and resources to help workers displaced in the process.

© 2021 The Canadian Press

Dear user, please be aware that we use cookies to help users navigate our website content and to help us understand how we can improve the user experience. If you have ideas for how we can improve our services, we’d love to hear from you. Click here to email us. By continuing to browse you agree to our use of cookies. Please see our Privacy & Cookie Usage Policy to learn more.