2022-03-31 13:40:00
CANADA'S CLIMATE PLAN $7.3 BLN
ENERDATA - 31 Mar 2022 - The government of Canada has unveiled its 2030 Emissions Reduction Plan, a CAD9.1bn (US$7.3bn) action plan aimed at ensuring that Canada reaches its emission reduction target of 40-45% below 2005 levels by 2030 and achieves its net-zero emission target by 2050.
The 2030 Emissions Reduction Plan aims at reducing costs for homes and buildings (development of the Canada Green Buildings Strategy and additional investments in the Canada Greener Homes Loan programme), empowering communities to take climate action (additional financing for the Low Carbon Economy Fund and for Regional Strategic Initiatives), and facilitating the switch to electric vehicles (extension of the Incentives for Zero-Emission Vehicles (iZEV) programme, additional investments in charging stations, regulatory constraints for medium- and heavy-duty vehicles). Measures will be introduced to help industries adopt clean technologies such as carbon capture, utilization, and storage (CCUS). In the energy sector, the plan aims to reduce the emissions of the oil and gas sector to 31% below 2005 levels in 2030 (42% below 2019 levels) and to cut their methane emissions by at least 75% by 2030. A Pan-Canadian Grid Council will be created to promote clean electricity infrastructure investments, and the government of Canada will increase investments in the Smart Renewables and Electrification Pathways Programme.
The 2030 Emissions Reduction Plan is the first one issued under the Canadian Net-Zero Emissions Accountability Act. Canada will release progress reports in 2023, 2025, and 2027.
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Earlier:
2022, March, 21, 12:00:00
CANADA'S SMR INVESTMENT
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Two newly announced North American initiatives aim to accelerate the deployment of fusion technologies for power generation. In Canada, Bruce Power, General Fusion, and the Nuclear Innovation Institute (NII) will work together to evaluate potential deployment of a fusion power plant in Ontario.
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UAE, CANADA HYDROGEN COOPERATION
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2022, January, 18, 12:39:00
CANADA'S CLEAN ENERGY
Canada’s current energy and economic profile presents both challenges and opportunities in achieving these targets given its profile as a major producer, consumer and exporter of energy, and its northern climate.
2022, January, 17, 11:35:00
CANADA'S FUSION ENERGY
Canada’s General Fusion announced that it had achieved several aggressive performance goals of a prototype system for its Fusion Demonstration Plant (FDP).
2022, January, 17, 11:30:00
CANADA'S CLIMATE RISKS
The transition, to be spread over 30 years, will hit Canada's economic growth as demand and prices for commodities fall, leading to less inflationary pressure and a need for more stimulative monetary policy, the Bank of Canada and the Office of the Superintendent of Financial Institutions said.
