CAPP Submission: Environmental Performance & Economic Competitiveness: Making Canada a Low Carbon Global Supplier of Choice
CAPP believes Ottawa’s planned CCUS tax-credit policy is a significant step forward in federal support for emissions-reducing technology and our climate goals. However, Canada not only was still behind competitors such as Norway and the U.S., but with the advent of the recently passed Inflation Reduction Act, (the Act) Canada’s position to not only reach our climate goals but also to be a global supplier of choice, is at risk if Canada’s policies do not compare to those in the U.S. While we appreciate this consultation is focused on design features of the proposed ITC, CAPP firmly believes it is the existing policy itself that requires re-assessment if Canada is to be a leader in CCUS project design and execution which is required to reach our climate reduction targets.