A Healthy Environment and a Healthy Economy - Clean industry

Country / jurisdiction: Canada · Year: 2020 · Status: In force · Level: National · Type: Voluntary

One of the five pillars of the Healthy Environment and a Healthy Economy climate plan, announced in December 2020, is a collection of actions focussed on clean and decarbonised industry, described as Building Canada's Clean Industrial Advantage. Announced initiatives to support low-carbon industry include:

A Strategic Innovation Fund, with an investment of CAD 3 billion over five years, to finance decarbonization projects with large emitters and scale-up clean technologies.

A Low-carbon and Zero-emissions Fuels Fund (CAD 1.5 billion) to increase the production and use of low-carbon fuels.

An Emissions Reduction Fund (CAD 750 million) to support oil and gas companies investments to reduce greenhouse gas emissions.

A Net-Zero Challenge for large emitters to support Canadian industries in developing and implementing plans to transition their facilities to net-zero emissions by 2050.

The introduce of Canada’s Hydrogen Strategy, which sets out a path for integrating low emitting hydrogen across the Canadian economy, before the end of the year.

Official source: https://www.canada.ca/en/environment-climate-change/news/2020/12/a-healthy-environment-and-a-healthy-economy.html