Steven Guilbeault announces $200 Million for projects to reduce carbon emissions

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Steven Guilbeault, the Environment Minister, announced Thursday that a new $200-million fund will be launched by the federal government. It will provide grants of up to 25 million dollars to projects that reduce carbon emission. Canada is striving to cut its emissions to net zero in the next three years.

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The money expands the governments Low Carbon Economy FundSince its launch in 2018,, has distributed $275 million for solar panels, city composting programs, retrofits, and other projects.

Guilbeault stated that Canada’s Low Carbon Economy Fund is an important component of its climate plan. It helps to create cleaner, healthier communities and better jobs.

Nearly all organizations, including non-profits and businesses, can apply to the fund for $1 million to $250 million, or for a cost share of 25 to 75 percent.

Canada is committed to achieving net-zero emissions by 2050 and a reduction of 40 to 45 per cent below 2005-level emissions in 2030.

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Guilbeault stated that every project in this program helps us get closer to our national goal, before pointing out several examples from the past.

Peterborough, Ontario, received $6.1million to help pay for a $15.3-million composting project to keep food and other waste out of landfills.

We cannot fight climate change while continuing financial support for the production and consumption of fossil fuels.

Steven Guilbeault

The virtual conference. Peterborough councillor Gary Baldwin called it a key component of the city’s plan to reach net zero by 2050. He said that composting would reduce approximately 80,000 tonnes carbon dioxide between 2023-2050.

Cowesses First Nation in Saskatchewan received $630,000 to put solar arrays on its property. These arrays now account for approximately 60% of the nation’s annual electricity consumption.

Chief of Cowessess First Nation Cadmus Delorme praised the project for its important role in Canada’s reconciliation process with Indigenous peoples. He also said that workers who received training from the experience have been able to find work in other parts of the province.

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However, the descriptions of these projects are small and provide context for Canada’s challenges in meeting its emissions reductions goals.

In 2019, The latest data available from governmentThe country emitted 730million tonnes of carbon dioxide equivalent in 2009, up from 694million tonnes in 2009. 52 percent of total emissions were attributed to the oil-and-gas and transport sectors. This amounts to approximately 379.6million tonnes.

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The government wants new vehicles to emit zero emissions by 2035. There are interim targets.

According to estimates, the oil and natural gas industry will need to invest $75 billion in carbon capture systems and other technology to reach net-zero emission by 2050. A group representing the industry suggested that the government contribute up to two-thirds of this amount.

Already there is opposition, including a letter signed last week by more than 400 scientists, academics, and others who claim that carbon-capture technology has not been proven and is expensive. They asked the government to halt its proposed tax credit for carbon capture investments. This would be a subsidy for fossil fuels.

Guilbeault is expected release his plan for reducing emissions by March 31st. He has also stated that he opposes new fossil-fuel subsidies.

He said that it was impossible to combat climate change while encouraging the production and consumption of fossil fuels financially.

Financial Post

Email: [email protected] | Twitter: GabeFriedz

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