US EditionFeds unveil new climate strategy with no details on Canada’s emission commitments
- On Tuesday, Prime Minister Mark Carney's Liberal government unveiled Budget 2025, ending the oil and gas emissions cap and setting a decades-long carbon-price path toward net-zero by 2050.
- To spur private investment, the budget proposes expanding pre-investment tax credits for green manufacturing and CCUS, responding to Conservative Leader Pierre Poilievre and Alberta Premier Danielle Smith urging to scrap the cap.
- Under the plan, the CCUS tax credit covers up to 60 per cent of investments and extends to 2035, while emissions-cut rules aimed for 35 per cent below 2019 levels by 2030, according to the Canadian Climate Institute.
- By amending the Competition Act, the government would lower the threshold for fossil-fuel companies to substantiate claims and bar third parties from raising 'greenwashing' complaints to the Competition Tribunal.
- With provinces like Saskatchewan pausing programs on April 1, Ottawa gave no timeline and noted ending the cap depends on carbon markets, CCUS deployment and methane regulations.
32 Articles
32 Articles
Is there anything to love in Carney’s climate strategy?
Amidst widespread criticism, some climate advocates see cause for optimism. A handful of prominent names in the climate community shared their reasons with Canada’s National Observer for cautious support of Carney’s climate strategy.
Efforts to ensure that future generations live in a healthy and sustainable environment are modest.
Budget 2025 reaffirms industrial carbon pricing key to Canada's climate competitiveness while unlocking clean electricity and critical minerals investments
Predictable, stable and long-term policy and new tax measures gives investors confidence and drives lasting economic growth
Budget 2025: Liberals scrap emissions cap, greenwashing rules as part of climate competitiveness strategy
Unveiled in Budget 2025, the long-promised strategy largely focuses on plans to "strengthen" the industrial carbon price and expand pre-existing investment tax credits designed to spur investment in green manufacturing, as well as carbon capture and storage.
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