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Opinion

Decarbonization will mean industrial restructurings on an unprecedented and massive scale, Canada better get ready for it

By Kevin Lynch and Paul Deegan       

This will be particularly challenging for countries, like Canada, with large natural resource sectors including oil and gas production and distribution. How we deal with decarbonization’s industrial dislocation will not only determine Canada’s long-term growth and prosperity prospects, it also has the potential to propel populism and polarization into a mainstream force in Canadian politics.

The oilsands, pictured in Fort McMurray, Alta. As Canada proceeds on its decarbonization path, it is worth remembering that natural resource industries and energy-intensive manufactures account for the majority of Canadian exports. The Hill Times photograph by Jake Wright

Throughout history, industrial restructurings have always produced gain and pain, winners and losers, and political protest movements. We are about to face another. Decarbonization, which is the essence of achieving the COP26 climate change goals, will entail industrial restructurings on an unprecedented and massive scale.

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