Alberta
NOVA Chemicals partnership looking to solve massive problem of plastics waste!
NOVA Chemicals and Enerkem Collaborate to Close the Loop on Plastics Recycling
Research Seeks New Way to Reduce Waste to Landfill and Drive Zero Plastic Waste
Two Canadian companies will collaborate on innovative technology to close the loop on recycling and drive a plastics circular economy. NOVA Chemicals Corporation (“NOVA Chemicals”), a leading producer of chemicals and plastic resins, and Enerkem Inc. (“Enerkem”), a world-leading waste to renewable fuels and chemicals producer, have entered into a joint development agreement to explore turning non-recyclable and non-compostable municipal waste into ethylene, a basic building block of plastics.
Working together, the companies will research advanced recycling technology to transform hard-to-recycle municipal waste, including items such as plastics, household waste, and construction materials, into ethylene at full commercial scale. Ethylene, produced from waste, would advance a plastics circular economy and help meet consumer brand goals for recycled content in packaging.
Advanced recycling technologies are a necessary component of moving to zero plastic waste by creating valuable new feedstocks from post-use plastics that cannot be easily mechanically recycled. The quality of polymers produced with advanced recycling products is indistinguishable from those made from 100 percent virgin, fossil-based feedstocks.
“We are excited to work with Enerkem to create innovative, sustainable solutions for a plastics circular economy,” said Todd Karran, president and CEO, NOVA Chemicals. “Our R&D teams will collaborate to develop game changing technology to push the boundaries for recycling waste to create new feedstocks and bring value to the environment, economy and society.”
Enerkem is the first company in the world to produce renewable methanol and ethanol from non-recyclable, non-compostable municipal solid waste at full commercial scale. Its current technologies replace the use of fossil sources like petroleum and natural gas to produce sustainable transportation fuels and chemicals that are used in a broad range of everyday products.
“We are delighted to team up with NOVA Chemicals to collaborate on new technology for waste-to-ethylene feedstock to solve one of the world’s most pressing environmental issues,” said Dominique Boies, CEO and CFO, Enerkem. “This strategic partnership will allow us to explore the development of new products and expand our offering in pursuit of the circular economy.”
Peter Nieuwenhuizen, Enerkem’s Vice President of Technology Strategy & Deployment, added “With over 20 years of technology development, we have built a robust gasification platform to turn waste and biomass into fuels and chemicals with high carbon efficiency. Enerkem’s technology has the scale and versatility to supply raw materials for the circular and decarbonized chemical industry that is being created now. Not just for plastics but also for many other chemical ingredients that are vital for everyday life.”
NOVA Chemicals is committed to enabling 100 percent of plastics packaging is recyclable or recoverable by 2030; and 100 percent of plastics packaging is re-used, recycled or recovered by 2040. “This research is one of the ways NOVA Chemicals is innovating to recapture the value of plastic products and create a world free of plastic waste,” said Karran. “Working together, we can shape a world that is better tomorrow than it is today,” he added.
About NOVA Chemicals Corporation
NOVA Chemicals develops and manufactures chemicals and plastic resins that make everyday life healthier, easier and safer. Our employees work to ensure health, safety, security and environmental stewardship through our commitment to Sustainability and Responsible Care®. NOVA Chemicals, headquartered in Calgary, Alberta, Canada, is wholly-owned ultimately by Mubadala Investment Company of the Emirate of Abu Dhabi, United Arab Emirates.
Visit NOVA Chemicals on the Internet at www.novachem.com.
About Enerkem
Enerkem produces advanced biofuels and renewable chemicals from biomass and residual material. Its disruptive proprietary technology converts non-recyclable, non-compostable solid waste into methanol, ethanol and other widely used chemicals. Headquartered in Montréal, Québec, Canada, Enerkem operates a full-scale commercial facility in Alberta as well as an innovation centre in Québec. Enerkem’s facilities are built as prefabricated systems based on modular manufacturing infrastructure that can be deployed globally. Enerkem’s technology is a prime example of how a true circular economy can be achieved by diversifying the energy mix and by making everyday products greener while offering a smart, sustainable alternative to landfilling and incineration.
From the Fraser Institute
By Tegan Hill
According to the recent mid-year update tabled Thursday, the Smith government projects a $4.6 billion surplus in 2024/25, up from the $2.9 billion surplus projected just a few months ago. Despite the good news, Premier Smith must reduce spending to avoid budget deficits.
The fiscal update projects resource revenue of $20.3 billion in 2024/25. Today’s relatively high—but very volatile—resource revenue (including oil and gas royalties) is helping finance today’s spending and maintain a balanced budget. But it will not last forever.
For perspective, in just the last decade the Alberta government’s annual resource revenue has been as low as $2.8 billion (2015/16) and as high as $25.2 billion (2022/23).
And while the resource revenue rollercoaster is currently in Alberta’s favor, Finance Minister Nate Horner acknowledges that “risks are on the rise” as oil prices have dropped considerably and forecasters are projecting downward pressure on prices—all of which impacts resource revenue.
In fact, the government’s own estimates show a $1 change in oil prices results in an estimated $630 million revenue swing. So while the Smith government plans to maintain a surplus in 2024/25, a small change in oil prices could quickly plunge Alberta back into deficit. Premier Smith has warned that her government may fall into a budget deficit this fiscal year.
This should come as no surprise. Alberta’s been on the resource revenue rollercoaster for decades. Successive governments have increased spending during the good times of high resource revenue, but failed to rein in spending when resource revenues fell.
Previous research has shown that, in Alberta, a $1 increase in resource revenue is associated with an estimated 56-cent increase in program spending the following fiscal year (on a per-person, inflation-adjusted basis). However, a decline in resource revenue is not similarly associated with a reduction in program spending. This pattern has led to historically high levels of government spending—and budget deficits—even in more recent years.
Consider this: If this fiscal year the Smith government received an average level of resource revenue (based on levels over the last 10 years), it would receive approximately $13,000 per Albertan. Yet the government plans to spend nearly $15,000 per Albertan this fiscal year (after adjusting for inflation). That’s a huge gap of roughly $2,000—and it means the government is continuing to take big risks with the provincial budget.
Of course, if the government falls back into deficit there are implications for everyday Albertans.
When the government runs a deficit, it accumulates debt, which Albertans must pay to service. In 2024/25, the government’s debt interest payments will cost each Albertan nearly $650. That’s largely because, despite running surpluses over the last few years, Albertans are still paying for debt accumulated during the most recent string of deficits from 2008/09 to 2020/21 (excluding 2014/15), which only ended when the government enjoyed an unexpected windfall in resource revenue in 2021/22.
According to Thursday’s mid-year fiscal update, Alberta’s finances continue to be at risk. To avoid deficits, the Smith government should meaningfully reduce spending so that it’s aligned with more reliable, stable levels of revenue.
Author:
Better, faster, more affordable auto insurance
Alberta’s government is introducing a new auto insurance system that will provide better and faster services to Albertans while reducing auto insurance premiums.
After hearing from more than 16,000 Albertans through an online survey about their priorities for auto insurance policies, Alberta’s government is introducing a new privately delivered, care-focused auto insurance system.
Right now, insurance in the province is not affordable or care focused. Despite high premiums, Albertans injured in collisions do not get the timely medical care and income support they need in a system that is complex to navigate. When fully implemented, Alberta’s new auto insurance system will deliver better and faster care for those involved in collisions, and Albertans will see cost savings up to $400 per year.
“Albertans have been clear they need an auto insurance system that provides better, faster care and is more affordable. When it’s implemented, our new privately delivered, care-centred insurance system will put the focus on Albertans’ recovery, providing more effective support and will deliver lower rates.”
“High auto insurance rates put strain on Albertans. By shifting to a system that offers improved benefits and support, we are providing better and faster care to Albertans, with lower costs.”
Albertans who suffer injuries due to a collision currently wait months for a simple claim to be resolved and can wait years for claims related to more serious and life-changing injuries to addressed. Additionally, the medical and financial benefits they receive often expire before they’re fully recovered.
Under the new system, Albertans who suffer catastrophic injuries will receive treatment and care for the rest of their lives. Those who sustain serious injuries will receive treatment until they are fully recovered. These changes mirror and build upon the Saskatchewan insurance model, where at-fault drivers can be sued for pain and suffering damages if they are convicted of a criminal offence, such as impaired driving or dangerous driving, or conviction of certain offenses under the Traffic Safety Act.
Work on this new auto insurance system will require legislation in the spring of 2025. In order to reconfigure auto insurance policies for 3.4 million Albertans, auto insurance companies need time to create and implement the new system. Alberta’s government expects the new system to be fully implemented by January 2027.
In the interim, starting in January 2025, the good driver rate cap will be adjusted to a 7.5% increase due to high legal costs, increasing vehicle damage repair costs and natural disaster costs. This protects good drivers from significant rate increases while ensuring that auto insurance providers remain financially viable in Alberta.
Albertans have been clear that they still want premiums to be based on risk. Bad drivers will continue to pay higher premiums than good drivers.
By providing significantly enhanced medical, rehabilitation and income support benefits, this system supports Albertans injured in collisions while reducing the impact of litigation costs on the amount that Albertans pay for their insurance.
“Keeping more money in Albertans’ pockets is one of the best ways to address the rising cost of living. This shift to a care-first automobile insurance system will do just that by helping lower premiums for people across the province.”
Quick facts
- Alberta’s government commissioned two auto insurance reports, which showed that legal fees and litigation costs tied to the province’s current system significantly increase premiums.
- A 2023 report by MNP shows
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