In 2021, we indicated that, “Taken together, full implementation of the actions and measures...are expected to yield reductions of 36% below 2005 levels by 2030.” We also noted that the emphasis this time “should be on meeting the targets and not just making plans. Sound plans are essential, but it is the outcome that really matters”, which has been a theme of many of my comments today and in previous....
What's changed? Unfortunately, the 36% hasn't changed, although it actually has. There have been different estimations between now and then. It's gone down to 34.6% and back up to 36%, but the gap remains, and that's unfortunate. Some new measures have been brought into place or at least are planned to be brought into place, such as the oil and gas emissions cap, the electricity regulations and the finalization of the clean fuel regulations. However, none of the ones that are in place are enough to fully fill that 4% gap. My understanding of the oil emissions cap, at least in the narrative that was associated with the draft regulation that was published, is that it, on its own, isn't enough to fill the 4% gap, but that it would contribute to filling that gap.