Welcome

Canada Readies Carbon Capture Credit, Emissions Plan (Correct)

Jan. 14, 2022, 9:53 PM

Canada is preparing to roll out a tax credit for investments in carbon capture, a key step to reduce greenhouse-gas emissions from its oil sands, and will soon outline its 2030 goals for pollution cuts.

The federal government will probably include the tax credit in the next budget and detail the goal to cut emissions 40% to 45% below 2005 levels by March, Jonathan Wilkinson, Canada’s natural resource minister, said in a phone interview.

Oil sands companies have said that zeroing out carbon emissions from their operations could cost C$75 billion ($60 billion), mostly for carbon capture projects, which ...

To read the full article log in.

Learn more about a Bloomberg Tax subscription.