Dave McKay is president and CEO of the Royal Bank of Canada.
History has placed Canada at a crossroads. No other country of 37 million people has access to more natural resources – and the brainpower to convert those resources into sustainable growth for a stronger society.
And yet, Canada is at risk of taking the wrong turn at the crossroads because some believe there are only two paths: one for economic growth, and the other for environment. We’re seeing this dilemma play out in Canada’s energy transition as we struggle to reconcile competing ideas.
We aspire to help the world meet its energy needs and move to ever-cleaner fuel sources. We aim to reduce our carbon footprint. We want Indigenous reconciliation and long-term partnership. And we hope to maintain the standard of living we have come to enjoy.
But without a balanced approach to harnessing our energy future, all of this is at risk. We need to take a third path – one that will help us develop our natural resources, invest in clean technologies and ensure a prosperous Canada.
It’s the Canadian path forward, and the type of approach that’s defined the country as a nation of builders for the past century and a half. We at RBC have seen this firsthand.
For the rest of this column: https://www.theglobeandmail.com/business/commentary/article-the-energy-hungry-world-isnt-waiting-for-canada/