The measure will help to reduce carbon emissions in the operation of its pipelines carrying oil and oil products.
In the future, TC Energy’s plan is to move its gas pipelines onto renewables entirely, both in Canada and the United States.
TC Energy’s annual total volume of CO2 emissions amounts to 14 million tonnes. The currently is currently engaged in calculations on how much it could reduce those emissions through a transition. TC Energy took a decision on the step as a result of the increasing costs of quotas for CO2 emissions.
Canada plans to raise the rate for emissions by a factor of more than four by the end of the decade – to 170 Canadian dollars ($US 136) a tonne.
The government last spring its intention to reduce CO2 emissions by 40-45 % by 2030. As the country is a major oil producer t is hoped that this will speed up the process of decarbonization. The government’s previous plan had been to reduce emissions by a third over the same time frame.
TC Energy was the company behind construction of the Keystone XL pipeline intended to carry oil from Canada to the United States. The project was halted after U.S. President Joe Biden took office and is now officially shelved.