May 26, 2021 Read More →

Canada federal budget includes ‘wild card’ carbon research, invests in carbon capture utilization and storage (CCS)

The Record: 

If we are going to achieve net-zero emissions in Canada to deal with our climate crisis, we need both the tried and true methods as well as “wild cards,” advises the Canadian Institute of Climate Choices.

The new federal budget seems to reflect that advice. Billions of dollars are going to tried-and-true carbon pricing, more charging stations, interest-free loans for homeowners to improve their home’s energy efficiency, and investments in cleaning up high-emitters such as the auto and aerospace industries. The federal government has also committed to green procurement and planting two billion trees.

One of the wild cards is the more than $319 million going to Natural Resources Canada “to support research, development, and demonstrations that would improve the commercial viability of carbon capture, utilization and storage technologies.”

Tax incentives are also being offered for carbon capture, utilization and storage investors. It’s not a huge amount, but is it a wild card that should be played?

[Susan Koswan]

More: Tried-and-true renewables will help fight climate change better than ‘wild cards’

Posted in: IEEFA In the News

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