Whereas: (1) In its World Energy Outlook 2021, the International Energy Agency (IEA) has produced a comprehensive Net Zero Emissions by 2050 scenario (NZE) in which “the rapid drop in oil and natural gas demand means that no fossil fuel exploration is required, and no new oil and natural gas fields are required beyond those that have already been approved for development… Also not needed are many of the liquefied natural gas (LNG) liquefaction facilities currently under construction or at the planning stage.” (2) The IEA’s executive director, Fatih Birol, stated: “If governments are serious about the climate crisis, there can be no new investments in oil, gas and coal, from now – from this year.” (3) “The global human, environmental, and economic costs of failing to reduce greenhouse gas emissions far outweigh the costs of transitioning to a low-carbon economy. (…) Transition readiness is about more than just emission reductions. In sectors where global demand is expected to decline, such as coal and oil, companies need to transform into new business lines.” (4) Imperial Oil could redirect expenditures dedicated to explore and increase reserves to low carbon opportunities such as using bitumen to produce non- combustion and high-value products (see Alberta Innovates’ Beyond Bitumen Combustion strategy)