Latest news with #Output-BasedPricingSystem
Associated Press
21-03-2025
- Business
- Associated Press
Federal industrial carbon pricing delivers 38 new innovative and clean technology projects across Canada
GATINEAU, QC, March 21, 2025 /CNW/ - The Government of Canada is taking bold action to strengthen communities by addressing the impacts of climate change. Industrial carbon pricing is a foundational element of Canada's plan to protect the environment and build a strong, competitive, and sovereign 21st-century Canadian economy. Today, the Honourable Terry Duguid, Minister of Environment and Climate Change, announced investments of nearly $150 million from Canada's Output-Based Pricing System (OBPS) Proceeds Fund in 38 Decarbonization Incentive Program (DIP) projects in the four provinces where the federal OBPS applied in 2019 to current. This funding will help Canadian companies and organizations deploy cutting-edge clean technologies which cut pollution, enhance energy efficiency, create jobs, and strengthen Canada's economic footing. Today's investments will support a range of initiatives, such as replacing expensive oil- and gas-fired boilers with more efficient electric ones, producing cleaner and stronger Canadian fibreglass, deploying advanced carbon-management technologies, and enhancing the durability of galvanized steel sheets, all of which help drive down costs for Canadian manufacturers and consumers across the supply chain. Projects funded by the Proceeds Fund will also help unlock new opportunities and markets for made-in-Canada clean technology and innovation, strengthening the Canadian economy while reducing an estimated 544,100 tonnes of greenhouse gas pollution in the year 2030. The federal government recognizes the leadership role that industries and workers play in driving solutions to build a more competitive economy and protect the environment. Through partnerships with workers, industries, experts, enterprises, and Indigenous leaders, industrial carbon pricing supports projects that fight climate change and strengthen our economic security. Quotes 'Canada has everything it takes to be a leader in the low-carbon economy of the 21st century. At a time when we must strategically diversify our trade relationships, industrial carbon pricing is a key driver in protecting the international competitiveness of Canadian industries, enabling access to new export markets, creating good-paying jobs, and ensuring that major industrial polluters pay their fair share in clean technology investments across Canada. These investments are a win-win-win for Canadian workers, industries, and the environment. Fundamentally, industrial carbon pricing makes Canada stronger and more competitive in a changing world.' – The Honourable Terry Duguid, Minister of Environment and Climate Change 'Today, Canada is making significant investments that will not only strengthen our economy at a critical time but will also help protect our environment for future generations. Through the Output-Based Pricing System Proceeds Fund, this federal government is empowering Canadian companies to innovate, adopt cutting-edge technologies, improve their competitiveness and productivity, and reduce pollution. By supporting projects that drive efficiency and lower pollution, we are unlocking new economic opportunities, creating jobs, and positioning Canada as a global leader in the economy of today and tomorrow.' – The Honourable Jonathan Wilkinson, Minister of Energy and Natural Resources 'Canada is on track for a more competitive, resilient, and sustainable future. These investments will not only fuel innovation among Canadian cleantech companies but will also create made-in-Canada opportunities that drive growth and reduce greenhouse gas emissions. By working in tandem with key sectors to deploy industrial carbon pricing, we are seizing the opportunity for Canada to lead the global transition to a low-carbon economy, strengthening our country today and in the future.' – The Honourable Anita Anand, Minister of Innovation, Science and Industry 'The University of Toronto is the world's most sustainable university and is a global leader in transforming its infrastructure and operations to reduce carbon emissions. The Decarbonizing Incentive Program supports the modernization of the university's district energy system, ensuring that the energy that powers advanced research is clean and sustainable for decades to come.' – Ron Saporta, Chief Operating Officer, University of Toronto 'Funded in part through the Decarbonization Incentive Program, a new heat plant currently in the planning stages at Roseburg Forest Product's Pembroke facility would reduce greenhouse gas emissions by switching from natural gas to forest biomass to fuel manufacturing of our high-quality, medium-density fibreboard (MDF) and engineered wood products. Environment and Climate Change Canada's focus on supporting clean, sustainable growth through the OBPS Decarbonization Incentive Program aligns with Roseburg's longstanding commitment to innovative manufacturing and responsible forestry, and we're grateful for the support.' – Alexandre Ouellette, Senior Director of Manufacturing, Roseburg Forest Products Quick facts Proceeds from industrial carbon pricing are driving innovative, job-creating Canadian technology projects across regions and sectors. To date, the Decarbonization Incentive Program has supported total investments of over $874 million in 53 clean energy projects. Canada's emissions are now the lowest they have been in 27 years, excluding the pandemic years, and significantly lower than pre-pandemic levels. Between 2005 and 2023, the emissions intensity of Canada's economy was cut by 34%. All proceeds collected under the federal OBPS are returned to the jurisdiction of origin. Proceeds collected in jurisdictions where the federal system has been applied are being returned through the two program streams of the OBPS Proceeds Fund. The jurisdictions where the federal OBPS has applied previously, or continues to apply, are: Manitoba (federal OBPS continues to be in effect and proceeds continue to be collected) New Brunswick (federal OBPS was in effect and proceeds were collected until December 31, 2020) Ontario (federal OBPS was in effect and proceeds were collected until December 31, 2021) Saskatchewan (federal OBPS was in effect and proceeds were collected until December 31, 2023) Through the Decarbonization Incentive Program, the Government of Canada returns a portion of the proceeds collected from the federal pollution price on large industrial emitters to support innovative, clean technology projects across Canada back to their jurisdictions of origin. This funding enables eligible facilities to achieve greater energy efficiency, adopt sustainable solutions, and reduce pollution.
Yahoo
10-03-2025
- Business
- Yahoo
What Canada's Mark Carney Means for Climate Change
In the coming days, former central banker Mark Carney is set to be sworn in as Canada's Prime Minister, after winning the race to replace Justin Trudeau as the leader of the country's Liberal Party. He will be tasked with leading Canada through a number of pivotal moments—including a trade war with the United States, a cost of living crisis, and a critical moment in the country's fight against climate change. National elections must be called by Oct. 20, but could be triggered sooner by Carney or his opposition. Regardless of whether Carney's Liberal Party or the Conservatives win, the next few years will be decisive for Canada's fight against climate change. According to Environment and Climate Change Canada, the country must reduce emissions by at least 40-45% by 2030 compared to 2005 levels to meet its international commitments. Tapping his banking background, Carney has emerged as a leader in the climate space in recent years, bridging the financial sector and the climate fight. Since his time in the banking world, Carney has worked to bring the private sector into the climate fight towards net-zero emissions, calling the green transition 'the greatest commercial opportunity of our time' during a London event in 2020. He became a U.N. Special Envoy for Climate Action and Finance in 2019, and in 2021 launched the Glasgow Financial Alliance for Net Zero, an initiative aimed at bringing together financial institutions to support the transition to a net-zero economy. It was his work with the Bank of England from 2013 to 2020 that brought the climate crisis into focus for him. 'When I became governor of the Bank of England, which oversees the insurance industry, I saw that the number of extreme weather events had tripled and the cost of those events had gone up five times in a quarter century,' he said in an interview with the United Nations in 2021. 'These things really concentrated my mind on climate.' Carney's campaign has proposed a number of climate-forward economic initiatives. To start, Carney has proposed getting rid of Canada's consumer carbon tax, which places an added fee on consumers using fossil fuels. He claims that it currently places the burden on consumers rather than big polluters. 'When I see that something's not working I will change it,' he said during his victory speech on March 9. 'So my government will immediately eliminate the divisive consumer carbon tax on families and farmers and small and medium-sized businesses.' Instead, he has proposed replacing it with financial incentives that will make environmentally friendly initiatives, like energy efficient appliances or electric cars, more affordable for consumers. He also supports the enactment of federal permitting reform to speed up approvals of clean energy projects and measures such as improving the Output-Based Pricing System to better reward high emitters that reduce their greenhouse gas emissions. Carney also pledges to phase out the use of fossil fuels in federal government buildings by 2030 and expand the country's electric vehicle charging station infrastructure. Both Carney and Pierre Poilievre, whose Conservative Party will face off against Carney's Liberal Party in the upcoming general election expected later this year, say Canada's carbon tax must go. Poilievre has made his 'Axe the Tax' campaign a pillar of his political career. He blames the carbon tax program for the country's cost-of-living crisis. Unlike Carney's proposed green alternative to the tax, however, Poilievre and the Conservative party advocate for the expansion of oil and gas production in Canada. Poilievre has also opposed major climate initiatives—including a cap on pollution from oil and gas and the Clean Electricity Regulation which mandates a net-zero electricity system across Canada by 2035. In fact, throughout his 20 years as an MP, he has rarely voted in support of climate initiatives—voting in favor of protecting the planet only 13 times in his career, according to an analysis of his voting record by DeSmog. This includes on measures such as protecting whales and clean drinking water for First Nations. That's compared to his 400 anti-climate votes over the same period. Write to Simmone Shah at
