Canada can be a ‘superpower’ in sustainable energy

German Chancellor Olaf Scholz believes Canada can become a ‘superpower’ in sustainable energy, ahead of the two countries signing a major hydrogen deal this afternoon in Newfoundland.

Addressing a Canadian-German Chamber of Commerce event in Toronto, he said, “Canada has everything that Russia has – only with a better investment climate, and it’s a democracy. Canada has boundless potential to be a superpower in sustainable energy and sustainable resource production.”

Scholz, acknowledging the world is in the midst of a “perfect storm” of geopolitcal challenges, demand and supply pressures, rising inflation and the pandemic, said Germany is moving away from Russia energy “at warp speed”, and it will look to increase its LNG imports.

“Canada will play a big role in this,” he said.

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